The US Securities and Exchange Commission has approved standards that can accelerate crypto ETF approval, as each application does not need to be evaluated as one.
The decision, detailed in the SEC filings With stock exchanges such as Nasdaq, Nyse Arca, and CBOE BZX, on Wednesday, the process will streamline the process under Rule 6C-11, which significantly reduces approval times, which has been taken several months in the past.
“By approving common criteria on this list, we make sure our capital markets remain the best place in the world to engage in cutting the change of digital properties,” Sec Chair Paul Atkins Says in a separate statement.
“This approval helps to maximize investors’ choice and promote change by strengthening the listing process and reducing barriers to accessing digital asset products within the trusted American capital markets.”
It came as Spot Applications ETF for Solana’s preference (Sol), XRP (XRP), Litecoin (LTC) and dogecoin (Doge) Waiting for official approval.
The SEC faces deadlines from October to deciding on cases, in addition to a number of others, including avalanche, (Avax), Chainlink (Link), Polkadot (Dot) and bnb (Bnb).
The development was viewed as bullish of many industry pundits, including Bloomberg ETF analyst James Seyffart, who said: “This is the Crypto ETP outline we are waiting for.”
He expects a wave of crypto investment products to be launched in the US in the coming weeks and months.
SEC sets clear standards
To be eligible for the list, a crypto spot ETF must hold a commodity that either trade in a market that is part of the Intermarket Surveillance Group with access to tracking, or undergoing a futures contract listed in a designated contract market for at least six months with a share of sharing in the area.
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Alternatively, this may be eligible if it is monitored by an ETF with at least 40% exposure listed in a national security exchange, the security regulator said.
An exchange must submit a SEC filing rule when seeking to list and exchange products exchanged with crypto exchange that does not meet the approved criteria on the generic list.
SEC Crenshaw flags have concerns over the investor risk
SEC Commissioner Caroline Crenshaw stated Remembering the new criteria on the list, warned that they can lead to a market flooded with products that have not been fully -vetted for investor protection.
“The commission passes the buck to evaluate these proposals and make the necessary findings in the investor protection, in favor of rapidly monitoring new and arguably non -single product in the market.”
