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The U.S. Securities and Exchange Commission (SEC) has approved a caller acceptable of generic listing standards for commodity-based spot shares connected Nasdaq, Cboe, and the New York Stock Exchange.
The determination is expected to streamline the support process for exchange-traded products (ETPs) tied to integer assets, according to Fox Business newsman Eleanor Terret.
However, she added that the Generic Listing Standards don’t unfastened up each benignant of crypto ETP due to the fact that threshold requirements stay successful place, meaning not each products volition instantly qualify.
To adhd context, she quoted Tushar Jain of Multicoin Capital, who noted that the standards don’t use to each benignant of crypto ETP and that threshold requirements remain. He expects the SEC volition iterate further connected these standards.
The order, issued connected Sept. 17, grants accelerated support of projected regularisation changes filed by the exchanges. By adopting the standards, the SEC aims to shorten the clip it takes to bring caller commodity-based ETPs to market, perchance clearing a way for broader crypto concern products.
The regulator has been delaying the determination connected respective altcoin ETFs, astir of which are acceptable to scope their last deadlines successful October. The determination was rumored to beryllium the SEC’s mode of expediting approvals for crypto ETFs.
The support follows years of back-and-forth betwixt the SEC and exchanges implicit however to grip crypto-based products, with past applications facing lengthy reviews.
The caller process is expected to trim delays and supply much clarity for issuers, though the SEC signaled it whitethorn revisit and refine the standards arsenic the marketplace evolves.
While the determination marks progress, experts emphasized that the alleged “floodgates” for crypto ETPs are not yet afloat open. Future SEC actions volition find however broadly these standards tin beryllium applied crossed antithetic integer plus products.
The station SEC greenlights caller generic standards to expedite crypto ETP listings appeared archetypal connected CryptoSlate.
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