If the issuers meet the generic listing standards, then the exchange can go ahead with listing the ETF. With the new generic listing rules, he believes that a “wave of spot crypto ETP launches” will happen in the next few weeks and months. The SEC has approved Generic Listing Standards for "Commodity Based Trust Shares" aka includes crypto ETPs. Hougan referred to the “ETF Rule” that was passed by the SEC in late 2019, which created generic listing standards for traditional ETFs. “Expect the same kind of expansion if Generic Listing Standards come to crypto this fall,” Hougan wrote.