SEC formulates general listing standards for cryptocurrencies, and ETP approval time is shortened to about 75 days

According to ChainCatcher, Bitwise chief investment officer Matt Hougan said that the SEC is developing universal listing standards for cryptocurrencies that may revolutionize the market and trigger an explosion of crypto ETP. The new standard will shorten the approval time for encrypted ETP from up to 240 days to about 75 days, simplifying the issuance process. Crypto assets that meet pre-defined criteria (possibly Solana, XRP, Chainlink, etc.) will be able to obtain ETP approval faster. Hougan noted that ETF rules similar to those introduced in 2019 have increased traditional ETF circulation from 117 to 370 per year, and the crypto market may repeat this growth pattern. The general listing standard is expected to be launched as early as October this year, which will lower the investment threshold and make crypto assets more acceptable to ordinary investors, marking the crypto market's maturity stage.