SEC Approves Generic Listing Standards for Crypto ETFs, Accelerating Approval Process
- The U.S. SEC approved generic listing standards for crypto ETFs on September 17, reducing the approval timeline from 240 days to just 75 days.
- Eligible assets include XRP, Shiba Inu (SHIB), and Hedera (HBAR), among a total of approximately 12-15 crypto assets with futures contracts on regulated platforms.
- Bloomberg analysts predict over 100 crypto ETFs could launch within the next year due to this regulatory change.
- XRP’s price increased by over 3% to $3.10 following the announcement, with trading volume up by approximately 40% in the last day.
- SHIB and HBAR also saw price increases of nearly 4%, trading at $0.00001354 and $0.2458 respectively.
This approval aims to enhance investor choice and foster innovation in digital asset markets while ensuring regulatory clarity and investor protection. The SEC’s move is seen as a significant step towards integrating cryptocurrencies into mainstream finance.
With XRP, SHIB, and HBAR among those eligible for faster ETF approvals, their prices have shown notable increases post-announcement, reflecting heightened market interest.(Source)
