Overview

• Nasdaq, Cboe BZX and NYSE Arca won approval to use generic listing standards for commodity-based trust shares, prohibiting leveraged or inverse structures.
• The change removes product-specific Commission orders and can cut the filing-to-launch timeline to as little as 75 days, according to the coverage.
• Eligibility will rely on objective tests cited by exchanges, including a practical six-month record of regulated futures trading and robust surveillance and pricing references.
• Market watchers say Solana already meets the futures-tenure yardstick, XRP could meet it by mid-November, and Dogecoin has an established U.S.-listed derivatives history, positioning them for early filings and potential listings.
• Related actions included approval of the Grayscale Digital Large Cap Fund and clearance for options tied to the Cboe Bitcoin US ETF Index, while issuers prepare a fee and distribution contest that some analysts, including JPMorgan for XRP, expect could draw multi-billion-dollar first-year flows.