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universal crypto ETF standards
Key Points:* SEC aims to standardize crypto ETF listings impacting top coins.
The establishment of these standards could pave the way for broader cryptocurrency adoption within mainstream financial markets. With the potential inclusion of a wider range of digital assets, the standards aim to streamline the ETF listing process.
SEC’s Focus on Top 50 Coins for ETF Eligibility
The SEC’s collaborative effort with major exchanges focuses on aligning standards for cryptocurrency ETFs, potentially impacting the top 50 coins by market cap. Balchunas remarked on July 2nd that the approval rates could be as high as 95%, suggesting a flexible framework for top coins. Nasdaq’s recent submission to the SEC calls for expedited ETF developments, reflecting the market’s increasing demand for clarity and speed in listing procedures.
Changes resulting from these standards offer potential benefits for asset managers and investors. By simplifying operational procedures, including bypassing the 19b-4 process, ETF issuers gain significant time and cost efficiencies, potentially attracting substantial institutional investments into digital assets.
Eric Balchunas, Senior ETF Analyst, Bloomberg
Implications for Investors as Bitcoin Shows Resilience
Did you know? ETFs have historically propelled significant market shifts. A notable example is the approval of the first Bitcoin ETF in the U.S., leading to a spike in institutional interest and a broader acceptance of cryptocurrencies as a viable asset class.
According to CoinMarketCap, Bitcoin (BTC) is trading at $106,274.32, with a market cap of 2.11 trillion and a 24-hour trading volume of $45.81 billion, showing an 8.02% upsurge. Bitcoin’s value reflects minor fluctuations with a 0.68% decline in 24 hours, yet a positive 27.20% over 90 days, indicating resilience in the face of regulatory changes.
| | | --- | | DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |