Ripple Chief Legal Officer Stuart Alderoty has hailed an important development for crypto ETFs.
The Ripple CLO was reacting to a tweet by the National Cryptocurrency Association that the Securities and Exchange Commission (SEC) has approved new rules that make it easier for stock exchanges to list crypto ETFs.
Exchanges like the Nasdaq and NYSE can now follow one set of standards instead of filing each ETF separately, which implies that crypto may now be accessed through familiar investment tools.
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Alderoty highlighted this as an important development. According to the Ripple CLO, new listing standards bring crypto ETFs further into mainstream markets, adding that regulatory clarity is not just good policy; it builds confidence for Americans.
This comes in wake of the launch of the first XRP spot ETF in the U.S., with the Grayscale Digital Large Cap Fund (GDLC) also receiving approval from the SEC.
Crypto ETFs launch
Yesterday, digital asset manager Rex Osprey announced that XRPR and DOJE, the first ETF offering exposure to spot XRP and Dogecoin in the U.S., have launched.
XRPR got off to a hot start, trading $37.7 million on day one, which edges out IVES for the biggest day-one volume of any 2025 launch, according to Bloomberg analyst Eric Balchunas. Rex XRP ETF reported $24 million in volume within 90 minutes, which is 5x more than any of the XRP futures ETFs saw on day one.
According to Balchunas, this increased demand might be a good sign for the onslaught of 33 Act ETFs coming soon.
In positive news, the SEC has approved generic listing standards that will clear way for spot crypto ETFs to launch under the '33 Act, as long as they have futures on Coinbase, which currently includes about 12-15 coins.
Grayscale Digital Large Cap Fund (GDLC), a spot crypto basket that includes XRP, is scheduled to begin trading under the new ticker, Grayscale CoinDesk Crypto 5 ETF, with Balchunas adding that things are moving fast.
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