Editor's PiCK
U.S. SEC Discloses Virtual Asset ETP Approval Standards…"Coins Listed as Futures for Six Months Have Strong Approval Prospects"
Summary
- The U.S. SEC announced the disclosure of ETP approval standards for virtual assets.
- It was stated that the key point is that only coins traded as futures products on the Coinbase Derivatives Exchange for more than six months may be eligible for ETP approval.
- Bloomberg projected that about 12 coins have high chances of approval, with September to October being the most likely period for ETP approval.
The U.S. Securities and Exchange Commission (SEC) has disclosed the approval standards for virtual asset (cryptocurrency) exchange-traded products (ETPs).
On the 31st (local time), Eric Balchunas, a Bloomberg analyst, stated through his X that "the SEC's virtual asset ETP approval standards have been made public via a new exchange filing. The key point is that if a specific coin has been traded as a futures product on Coinbase Derivatives Exchange for more than six months, an ETP based on that coin may be approved."
He added, "Currently, about 12 assets meet these conditions, and most of these are coins Bloomberg previously forecasted to have an over 85% approval chance. However, the precise timing of the approval remains unclear, but September to October is considered the most likely period for approval."
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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