The U.S. Securities and Exchange Commission (SEC) has approved a rule change that transitions Grayscale's Ethereum ETFs—specifically the Grayscale Ethereum Trust and Ethereum Mini Trust—to generic listing standards on NYSE Arca. The approval, announced on September 23, 2025, follows NYSE Arca's filing on September 19 and was made effective immediately, waiving the standard 30-day operative delay.
This shift moves the ETFs from a non-generic to a generic framework under Rule 8.201-E, which is used for established commodity-based trusts. The change eliminates the need for case-by-case SEC approval for continued listing, reducing future filing requirements and administrative complexity. However, the SEC retains authority to temporarily suspend the rule within 60 days if deemed necessary for investor protection.
Analysts, including James Seyffart of Bloomberg Intelligence, highlight that this development signals a new phase of maturity for crypto ETFs and could pave the way for a wave of spot cryptocurrency exchange-traded products, particularly for altcoins. The SEC is still soliciting public comments on the rule change, emphasizing ongoing regulatory scrutiny.