The US SEC has taken a key step! Mainstream altcoins will usher in the ETF era, with XRP, SOL, LINK, and LTC all included.

The U.S. Securities and Exchange Commission (SEC) took a monumental step in the field of cryptocurrency regulation on Wednesday by officially approving a generic listing standard for Spot cryptocurrency ETFs. This new framework eliminates the case-by-case review process of the 19b-4 approval, paving the way for more digital asset ETFs to enter the market in the coming weeks. Grayscale's Digital Large Cap Fund (GDLC) became one of the first products approved under the new standard, further solidifying its market-leading position.

SEC Approves Universal Standard: Revolutionary Simplification of Crypto ETF Approval Process

According to the official announcement from the SEC, it has approved a proposed rule change allowing exchanges to adopt a universal listing standard for listing and trading Spot encryption ETFs. This transformative measure means that exchanges, such as Nasdaq, no longer need to submit a separate 19b-4 form for each new fund, greatly simplifying the approval process and increasing efficiency.

Grayscale CEO Peter Mintzberg stated: "The Grayscale Digital Large Cap Fund ($GDLC) has just been approved for listing along with the General Listing Standards. The Grayscale team is moving quickly to launch the first multi-asset encryption ETP, which will include assets such as Bitcoin, Ethereum, XRP, Solana, and Cardano."

This approval marks the birth of the first diversified, multi-asset encryption ETP in the United States, signaling that the market is shifting from single asset ETFs to a broader range of portfolio products.

Dozens of altcoins will welcome the ETF era: SOL, LINK, LTC are all included

Bloomberg analyst Eric Balchunas pointed out that, according to the new standards, there are currently about 12 to 15 cryptocurrencies eligible for a Spot ETF listing. However, the assets must meet one key condition: they must have at least six months of trading history on a regulated exchange in the United States.

Altcoins that meet this standard include Dogecoin (DOGE), Litecoin (LTC), and Chainlink (LINK), as well as major assets included in the Grayscale GDLC Fund. For example, Solana futures were launched in February 2024, which means the token met the six-month qualification standard on August 19.

The encryption community has reacted enthusiastically to this. Chainlink community liaison Zach Rynes emphasized that LINK could soon have its own ETF and pointed out that both Bitwise and Grayscale have submitted related applications. At the same time, the Litecoin Foundation also stated that the new standard provides a clear regulatory framework for LTC to be listed on U.S. exchanges. In addition, digital asset investor Mark is also optimistic about the prospects of the Hedera (HBAR) ETF.

Conclusion

The SEC's approval of the universal listing standards is not only a recognition of the efforts of asset management companies like Grayscale but also brings much-needed regulatory clarity and accessibility to the entire encryption market. This decision provides the clearest path for digital assets to enter the mainstream market, allowing investors to gain diversified crypto exposure without having to directly hold the assets. As ETF analyst James Seyffart stated: "We will see an ETF race in the coming weeks." This marks the beginning of the era of cryptocurrency ETFs, where it is no longer a question of "if" but rather "when."