Bitwise CIO: US SEC's proposed general listing standard may trigger explosive growth in crypto ETP

BlockBeats News, on September 16, Matt Hougan, chief investment officer (CIO) of crypto asset manager Bitwise, said that although September has always been a weaker month for crypto assets, the Securities and Exchange Commission (SEC) proposed general listing standards may completely open up the market, according to The Block, according to The Block. He pointed out that interest rate cuts, influx of ETP funds, rising US dollar attention, and strong momentum of tokenization and stablecoins have all laid the foundation for a rebound at the end of the year. Hougan explained that at present, each new spot cryptocurrency ETP needs to be applied to the SEC separately, and the approval cycle can be up to 240 days and there is no guarantee of approval. The first spot Bitcoin ETP application occurred in 2013, but the SEC did not approve the first batch of products until 2024. The introduction of the general listing standards will allow ETPs that meet the conditions to be online without applying separately, improving approval efficiency and shortening the approval cycle. This move means that crypto ETP can get predictable approval in as soon as 75 days, and will release a large number of new products as more futures markets go online.