The US stock and values commission. UU. (SECOND) On Wednesday he approved a set of rules for exchanges to list products quoted in the stock market (ETP) Maintain basic products, including cryptocurrencies, without requiring the agency’s individual review.
The decision will allow exchanges to proceed with the ETF list proposed to dodging the 19 often lengths(b) Rules presentation process that can take up to 240 days and requires that the SC approve or actively disapprove of an ETF.
Essentially, the process will be more rational than before.
ETF emitters will approach exchanges (Nasdaq, Nyse, CBOE) with an idea of product and desire to list your ETF. If the proposed strategy (Token or tokens combination) From the emitters complies with the generic list standard, then the exchange can proceed with the ETF list.
The president of the SEC, Paul Atkins, said that the decision was aimed at reducing barriers to access digital asset products in regulated US markets.
“By approving these generic listings, we ensure that our capital markets remain the best place in the world to participate in the avant -garde innovation of digital assets,” said the president of the SEC, Paul Atkins, in a statement.
Together with the change of rules, the agency signed the Grande Digital Capital Fund, which tracks the assets in the Coindesk 5 index and currently consists of Bitcoin ether (Eth)XRP Solarium and Cardano .
Read more: the grayscale Fund’s SEC pause is probably temporary
The regulator also approved the launch of options linked to the ETF index of CBOE Bitcoin Us and its mini version, expanding the set of cryptographic linked derivatives available in regulated US markets.
Great movement for Altcoin ETFS
The SEC listing standards could open the way for a wave of ETF Altcoin based on the point they have been waiting for the wink of regulators to enter the market.
“This is the Crypto ETP frame that we have been waiting for,” said James Seyffart, Bloomberg Intelligence ETF research analyst, in an X publication. “Prepare for a wave of spot crypto ETP launches in the coming weeks and months.”
Echoing this feeling, Kristin Smith, president of the Solana Policy Institute, said: “We are incredibly encouraged tonight’s news: the SEC continues to promote the rule of law by establishing clear road rules for US companies and take positive measures to allow US investors to access digital assets safely.”
“These new generic listings are a positive network for US investors, markets and innovation of digital assets. Excited by the next wave of adoption of cryptography!” He added.
UPDATE (September 8, 12:05 UTC): Correct 270 days to 240 days and clarify the approval process.
