SEC Delays Decision on Nasdaq Crypto ETF Listing
Published Date: 9/3/2025
Notice
Summary
The SEC is taking more time to decide if Nasdaq can update its rules to list and trade shares of the new Hashdex Nasdaq Crypto Index US ETF, a fund tied to crypto assets. This affects investors interested in crypto ETFs and could open new trading options once approved. The decision delay means more review before any money moves or trades happen.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Proposal to List a Crypto ETF
Nasdaq filed a proposal (filed Feb 18, 2025; Amendment No. 2 filed July 3, 2025) to amend Nasdaq Rule 5711(i) (Trust Units) so it can list and trade shares of the Hashdex Nasdaq Crypto Index US ETF. If approved, the rule change would permit Nasdaq to list and trade that ETF under the amended Rule 5711(i).
SEC Extends Review Deadline 60 Days
The Securities and Exchange Commission extended the period for deciding whether to approve or disapprove the proposed rule change by an additional 60 days and designated November 2, 2025, as the new date for issuing an order. The original 180-day review period after publication would have ended on September 3, 2025.
Personalized for You
How does this regulation affect your finances?
Personalize government policy and PRIA will tell you what this federal register document means for your household, plus every other regulation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.
Key Dates
Department and Agencies
Related Federal Register Documents
2026-12163, The Trade-Through Rule and Locked and Crossed Markets Provisions of Regulation NMS
The SEC wants to scrap some old rules that stop stocks from being traded at worse prices and prevent confusing market quotes. This change affects stock traders and exchanges, aiming to simplify trading and possibly speed things up. If you want to share your thoughts, you’ve got until August 17, 2026, so don’t miss out!
2026-10373, Registered Offering Reform
The SEC wants to make it easier and cheaper for more companies to sell their stocks and bonds to the public. They’re opening up special forms and benefits to more businesses, updating rules to be more modern, and cutting red tape by overriding some state rules. If you’re a company planning to raise money, these changes could speed things up and save you money, with feedback due by July 27, 2026.
2026-10222, Enhancement of Emerging Growth Company Accommodations and Simplification of Filer Status for Reporting Companies
The SEC is making it easier for companies that report their finances by simplifying their categories into just two groups: big and small filers. Smaller companies, including emerging growth ones, will get more time to file reports and enjoy simpler rules, while big companies keep stricter standards. These changes aim to save time and money, with feedback open until July 20, 2026.
2026-07651, Concept Release on Consolidated Audit Trail and Other Audit Trails and Data Sources
The SEC wants your thoughts on how it tracks stock market trades using the Consolidated Audit Trail and other data tools. They’re thinking about updating rules to keep up with new tech, privacy, and security needs, and to make sure the system is fair and cost-effective. If you’re involved in the stock market or data tracking, speak up by June 22, 2026!
2026-16936, Eagle Point Credit Management LLC and Eagle Point Trinity Senior Secured Lending Company
2026-16951, Self-Regulatory Organizations; Cboe C2 Exchange, Inc.; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend Its Fees Schedule Regarding Certain Free Trials
Cboe C2 Exchange is changing its free trial offer for certain market data. Instead of letting users pick any six months of past data, everyone will get the same fixed six-month period from July to December 2022. This update starts right away and helps keep things simple for traders and data users.
Previous / Next Documents
Previous: 2025-16820, Self-Regulatory Organizations; NYSE American LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Adopt a Provision That the Exchange Will Not Review a Compliance Plan Submitted by a Listed Company That Is Below Compliance With a Continued Listing Standard if the Company Owes Any Unpaid Fees to the Exchange and Will Commence Suspension and Delisting Procedures if Such Fees Are Not Paid in Full
If a company listed on NYSE American owes any unpaid fees, the Exchange won’t even look at their plan to fix listing problems. If those fees aren’t paid by the deadline, the company could be suspended or kicked off the Exchange. This new rule kicks in right away and means companies need to pay up on time or face serious consequences.
Next: 2025-16822, Self-Regulatory Organizations; Investors Exchange LLC; Notice of Filing and Immediate Effectiveness of a Proposed Rule Change To Amend its Fee Schedule To Establish a Fee for Real-time Access to DEEP+
Starting October 1, 2025, Investors Exchange (IEX) will start charging a fee for real-time access to its DEEP+ market data, which shows detailed order and trade info. This change affects traders and firms who use this data, ending the free trial period that began in December 2024. If you rely on DEEP+ for trading insights, get ready to pay to stay in the know!