The US Securities and Exchange Commission (SEC) has approved a new series of generic list standards for shares-based trust shares on Nasdaq, CBOE and the New York Stock Exchange.
The relocation is expected to streamline the approval process for listed products (ETPs) linked to digital assets, according to FOX Business Reporter Eleanor Terret.
However, she added that the generic list standards do not open every type of crypto ETP because the threshold requirements remain in place, which means that not all products are immediately eligible.
To add context, she quoted Tushar Jain from Multicoin Capital, who noted that the standards do not apply to every type of crypto ETP and that threshold requirements continue to exist. He expects the SEC to repeat these standards.
The order issued on 17 September grants the approval of the proposed rule changes submitted by the stock exchanges. By adopting the standards, the sec time needed to bring new ETPs based ETPs to the market wants to shorten, which may be a path for wider crypto investment products.
The supervisor has delayed the decision about various Altcoin ETFs, most of which have been established to reach their last deadlines in October. The move would be the way the SEC would be to accelerate approvals for crypto ETFs.
The approval follows years back and forth between SEC and exchanges about how to deal with crypto-based products, with previous applications that are confronted with long assessments.
The new process is expected to reduce delays and offer more clarity for issuers, although the SEC has indicated that it can revise and refined the standards as the market evolves.
While the decision marks progress, experts emphasized that the so -called “locks” for crypto ETPs are not yet fully open. Future SEC actions will determine how wide these standards can be applied to various digital asset products.