SEC considers accelerating the development of universal listing standards for cryptocurrency ETFs, and the "floodgates" for altcoin ETFs are about to open

According to BlockBeats, on July 9th, Theblock reported that as the US Securities and Exchange Commission considers accelerating the approval of a unified listing framework, the "gate" of counterfeit cryptocurrency ETFs is about to open. Previously, according to cryptocurrency journalist Eleanor Terrett, the US Securities and Exchange Commission is collaborating with various trading platforms to develop universal listing standards for cryptocurrency ETFs, which is currently in its early stages. If the cryptocurrency meets the standards, the issuer can skip the 19b-4 process and directly submit the S-1 file, waiting for 75 days for the trading platform to launch it. This approach can save issuers and the SEC a lot of paperwork and time spent repeatedly soliciting opinions. The specific rules for the general listing standards of cryptocurrency ETFs are not yet clear, and market speculation on market value, trading volume, and liquidity are all being considered. Bloomberg Industry Research ETF analyst James Seyfart expects the framework draft to be released this month and implemented in September or October, when the floodgates for other asset ETFs will open. Analyst Eric Balchunas recently estimated that the SEC has a 95% chance of approving ETFs for SOL, XRP, and LTC, and there is also a high probability of ETF proposals for Dogecoin, Cardano, and Polkadot being approved, at around 90%.