The American Commission for Securities and Exchange (SECOND) Wednesday, approved a set of exchange rules to list the negotiated products (ETPs) Holding raw materials, including cryptocurrencies, without requiring the agency’s individual examination each time.
The decision will allow exchanges to carry out the List of ETFs offered bypassing the 19 often long.(b) The rules for depositing the rules that can take up to 240 days and forces the dry to approve or actively disapprove of an ETF.
Essentially, the process will be more rationalized than before.
ETF issuers will approach the exchanges (Nasdaq, Nyse, CBOE) With a product idea and a desire to list their FNB. If the proposed strategy (token or chip combination) Among the issuers meets the generic rating standard, then the exchange can register ETF.
The president of the SEC, Paul Atkins, said that the decision was aimed at reducing obstacles to access to digital asset products on the regulated American markets.
“By approving these generic registration standards, we make sure that our capital markets remain the best place in the world to engage in the cutting edge innovation of digital assets,” said the president of the SEC, Paul Atkins, in a press release.
In addition to the change of rule, the agency has signed the large -increase digital fund of Grayscale, which follows the assets of the Coindesk 5 index and is currently made up of Bitcoin ether (Eth)Xrp Solara and cardano .
Read more: the dry break of the gray fund is probably temporary
The regulator has also approved the launch of the options related to the CBOE Bitcoin US ETF index and its mini version, expanding all the derivatives linked to the crypto available on the regulated American markets.
Large movement for ETF Altcoin
SEC registration standards could potentially pave the way for a wave of Altcoin FNB based on a spot point waiting for the wink of regulators to the market.
“This is the Crypto ETP frame that we are expecting,” said James Seyffart, ETF research analyst at Bloomberg Intelligence, in a post. “Prepare yourself for a wave of ETP Spot Crypto launches in the coming weeks and months.”
Echoing this feeling, Kristin Smith, president of the Solana Policy Institute, said: “We are incredibly encouraged by this evening news: the dry continues to promote the rule of law by establishing clear road rules for American companies and taking positive measures to allow American investors to safely access digital assets.”
“These new generic quotation standards are a net positive for American investors, markets and innovation of digital assets. Excited for the next crypto adoption wave!”, She added.
UPDATE (September 8, 12:05 pm UTC):: Corrects 270 days to 240 days and clarifies the approval process.
