Written by: Bitpush News

The U.S. Securities and Exchange Commission (SEC) is brewing a significant change that could completely alter the listing approval process for cryptocurrency exchange-traded funds (ETFs).

According to independent journalist Eleanor Terrett, the SEC is in the early stages of developing a set of universal listing standards for crypto ETFs, aimed at significantly speeding up the approval process for such funds. If this initiative is implemented, it suggests that more mainstream digital asset ETF products may soon see a "floodgate" effect following the approval of Bitcoin and Ethereum spot ETFs.

Fast Track: From 240 Days to 75 Days

Currently, the listing approval for crypto ETFs follows a cumbersome and time-consuming process: exchanges must submit a 19b-4 form, which typically triggers a review period of up to 240 days. However, according to sources cited by The Block, the new framework being discussed by the SEC could drastically shorten this approval time, potentially simplifying the process to just 75 days.

Sources indicate that this initiative is primarily driven by major exchanges, aiming to align the approval of crypto ETFs with the processes for traditional ETFs.

"This is essentially an initiative from the exchanges to the SEC, where they say, 'We hope you will approve these listing standards we propose,'" a source revealed. "This way, every time we have a new crypto ETP (exchange-traded product), as long as it meets these standards, we won't have to seek SEC approval again. We can approve it ourselves."

New Standard Considerations: Market Cap, Decentralization, and Token Distribution

The universal listing standards under discussion may cover a range of key metrics, including: the total market capitalization of digital assets, the degree of decentralization, and the distribution of wallets. The SEC has also been involved in these discussions to ensure that any standards ultimately approved effectively protect investors and promote market efficiency.

Additionally, according to new guidelines released on July 1, issuers must detail in their disclosures: custodial arrangements, risk factors, and operational challenges in the cryptocurrency market. The SEC emphasizes that comprehensive risk disclosures must cover price volatility, cybersecurity threats, network attacks, fraud risks, and competition from other products.

An SEC insider stated, "They (the SEC) are actively communicating with the exchanges… They just want to ensure that any standards ultimately approved will protect investors and facilitate an efficient market."

Despite the anticipation surrounding this potential framework, ETF issuer 21Shares stated that they have not yet directly engaged with the SEC regarding the "proposed universal listing standards for tokenized ETFs." However, 21Shares has already submitted ETF proposals tracking Solana (SOL) and XRP.

21Shares stated, "If such a framework is implemented, it will significantly reduce the complexity and uncertainty of the current listing process, eliminating much of the speculation and ambiguity inherent in the existing 19b-4 approval procedure."

Additionally, the Trump Media Technology Group (operator of Truth Social) has submitted documents to the SEC to launch a product called the "Crypto Blue Chip ETF." This fund plans to primarily invest in Bitcoin (70%), Ethereum (15%), Solana (8%), XRP (5%), and CRO (2%).

This move not only marks the direct entry of a large publicly listed company but also reflects the political trends behind it, as Trump is pushing for a more crypto-friendly regulatory environment.

Analyst Predictions: A "Tsunami" Expected by September

Bloomberg ETF analyst James Seyffart stated during WOLF Trading X Spaces on Tuesday that he expects the draft of this framework to be published as early as this month, with implementation likely in September or October. Seyffart confidently remarked, "At that point, we will see a 'tsunami' of these other assets flooding into the market, which is exactly what I am looking forward to."

He and Bloomberg senior ETF analyst Eric Balchunas recently predicted that the probability of SEC approval for ETFs tracking SOL, XRP, and Litecoin is as high as 95%. Meanwhile, proposals for crypto ETFs such as Dogecoin, Cardano, and Polkadot also have a high likelihood of approval, estimated at around 90%.

This means that once the new listing standards framework takes effect, the market landscape for cryptocurrency ETFs will rapidly expand, covering more mainstream altcoins beyond Bitcoin and Ethereum, providing investors with a broader range of digital asset investment channels.

While issuers like 21Shares have stated they have not yet directly participated in discussions on universal listing standards, analysts generally believe that once the new framework is in place, it will greatly reduce the complexity and uncertainty of listing crypto ETFs. With regulatory clarity and the continuous emergence of new products, 2025 is expected to be the "breakout year" for crypto ETFs to truly go mainstream.

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