SEC approves general listing standards for encryption ETFs: XRP, SHIB and other ETFs are expected to be launched more quickly.

The U.S. Securities and Exchange Commission (SEC) has approved general listing standards for exchange-traded funds (ETFs) for cryptocurrency exchanges submitted under commodity rules by exchanges such as Nasdaq. This move qualifies 12 to 15 cryptocurrency assets, including XRP, Shiba Inu (SHIB), and Hedera (HBAR), to launch ETFs at a faster pace. This new regulation significantly reduces the approval time for crypto ETFs from 240 days to 75 days, bringing much-needed regulatory clarity to the market, and quickly boosting the prices of related crypto assets following the announcement.

SEC Approves General Listing Standards: Acceleration of Cryptocurrency ETF Approval Process

According to the official announcement released by the SEC on September 17, the U.S. Securities and Exchange Commission has approved universal listing standards for encryption ETFs. Now, exchanges such as Nasdaq, NYSE, and Cboe can directly list and trade eligible commodity trust shares, including digital assets, without the need to file Form 19b-4. This change reduces the approval time for encryption ETFs under the Securities Act of 1933 from up to 240 days to 75 days.

SEC Chairman Paul S. Atkins stated: "By approving these universal listing standards, we are ensuring that our capital markets remain the best place for global digital asset frontier innovation. This approval helps maximize investor choice and promote innovation by simplifying the listing process and reducing barriers to entry for digital asset products in the U.S. trusted capital markets."

The general listing standards provide much-needed regulatory clarity and certainty for the investment community, while ensuring protection for investors. Bloomberg ETF analysts Eric Balchunas and James Seyffart expect that over 100 encryption ETFs will emerge in the next 12 months. Existing spot encryption ETFs may also receive accelerated approval in the coming weeks.

15 types of encryption assets may accelerate approval: XRP, SHIB are among them

Cryptocurrencies that have futures contract trading on mainstream CEX and other regulated platforms are eligible for accelerated approval within 75 days. Bloomberg's senior ETF analyst Eric Balchunas revealed that currently, there are 12 to 15 tokens that meet this criteria, including XRP, Shiba Inu (SHIB), Hedera (HBAR), Cardano (ADA), Dogecoin (DOGE), and Stellar (XLM).

In addition, the SEC has also approved the listing of the Grayscale Digital Large Cap Fund, which holds a variety of assets including BTC, ETH, XRP, SOL, and ADA.

Market Reaction: Qualified Token Prices Rise Accordingly

After Federal Reserve Chairman Jerome Powell announced a 25 basis point interest rate cut, the cryptocurrency market surged. The news that the SEC approved a universal listing standard further drove up the prices of eligible cryptocurrencies.

In the past 24 hours, the price of XRP has increased by more than 3%, currently trading at $3.10. Its low and high points in the last 24 hours were $2.99 and $3.11, respectively. Additionally, its trading volume has grown by 40% in the past 24 hours, indicating significant interest from traders.

Meanwhile, the price of SHIB has increased by nearly 4% in the past 24 hours, reaching $0.00001354, with trading volume increasing by 38%. HBAR has also risen by over 4%, currently trading at $0.2458.

Conclusion

The approval of a universal listing standard for encryption ETFs by the US SEC is an important milestone in the history of digital asset regulation. It not only opens a fast track for a wider range of encryption assets to enter mainstream financial markets but also marks a significant shift in the attitude of regulators towards the industry. This move will greatly enhance the liquidity and credibility of the encryption market, and it is expected that a large influx of institutional funds will pour in over the next year, driving the industry into a new stage of development.