Davis Polk partner and Corporate Governance practice head Joe Hall discussed the SEC’s new listing process for crypto exchange-traded products (ETPs) with Law360.  

Joe explained that the new listing rules will remove the potential for arbitrary denials and gives innovators “clear guidelines on what they need to incorporate into product design in order to ensure a successful launch.”

“As we saw in the bitcoin [ETP] saga, when the approval process for new products is done on an ad hoc, case-by-case basis, it is too easy for arbitrary and improper considerations to influence whether or not new products can be brought to market, with the result that the SEC can start to act more like a merit-based regulator than the disclosure regulator that Congress intended the agency to be,” Joe said.

“SEC Eases Path For Crypto ETPs With New Listing Rules,” Law360 (September 18, 2025) (subscription required) 

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