SEC Eases Listing Rules — Bitwise Sees 100+ New Crypto ETPs Coming in 2026
The U.S. Securities and Exchange Commission adopted generic listing standards in October that remove the need for separate 19(b) approvals and the roughly 240‑day wait for qualifying crypto exchange-traded products (ETPs). Bitwise researcher Ryan Rasmussen told the Bankless podcast he expects more than 100 new crypto ETPs to launch in 2026, including spot crypto ETPs, index funds, equity-linked products, smart‑beta and momentum strategies. The rule creates a clearer playbook for issuers and lowers the barrier to ETF issuance, likely increasing product variety and competition among issuers. Market data already show more than 300 crypto ETPs exist globally, and some issuers (e.g., Tidal Trust) are filing niche ETFs such as a product targeting Bitcoin price moves outside normal trading hours. Analysts caution, however, that easier listings do not guarantee strong inflows: liquidity, investor demand and differentiated use cases will determine uptake. Historical behavior of ETFs suggests assets often concentrate in a few large funds, so many new ETPs may see thin trading while a handful attract most assets under management. For traders, the change signals more product options and potentially greater spot BTC liquidity over time, but initial listings may have low volume and fragmented flows.
Bullish
The SEC’s adoption of generic listing standards materially reduces regulatory friction for listing crypto ETPs, which should, on balance, support demand for the referenced cryptocurrency — primarily Bitcoin. Easier and faster listings increase the probability of new spot BTC ETP supply and product variety, expanding on‑ramps for institutional and retail investors. Over time, greater ETF product availability tends to increase tradable liquidity and institutional participation, which is bullish for BTC price. However, the effect may be muted or delayed: many new products could see thin early trading and most inflows historically concentrate in a few large funds, so short‑term price impact may be limited or neutral until clear winners emerge and significant AUM flows materialize.