In the last 24 hours, several significant developments have occurred in the US crypto space, including regulatory approvals and new proposals.
SEC Approval for ETF Creation and Redemption
The SEC has approved in-kind creation and redemption for all spot Bitcoin (BTC) and Ethereum (ETH) ETFs. This decision abolishes the previous restriction established in January 2024, which required a cash-only creation and redemption mechanism. Under the new rule, authorized participants will be able to exchange ETF shares directly for the underlying crypto assets, potentially reducing costs for investors. This regulatory update has raised optimism around XRP ETF approval, as analysts are predicting an 85% probability of approval in 2025.
NYSE and Cboe's Proposal for ETF Standards
The NYSE and the Chicago Board Options Exchange (Cboe) have submitted proposals to the SEC to establish a unified standardized framework for listing crypto ETFs. Currently, each new crypto ETF requires a separate 19b-4 filing and a lengthy review process. The new proposal will allow eligible crypto ETFs to list without separate SEC approvals, streamlining the process.
White House's Work on Crypto Regulation
Under the Trump administration, the White House is actively working to usher in a 'golden age of crypto.' This includes an ambitious roadmap and legislative reforms aimed at positioning the US as the global leader in the digital assets sector. In July 2025, Congress passed three landmark bills — the GENIUS Act, the CLARITY Act, and the Anti-CBDC Surveillance State Act.
These recent changes indicate that the US is finally moving towards providing the long-awaited clarity in its crypto regulations, establishing simpler procedures for crypto listings.
