加密货币现货ETF审核或极速通过，山寨币ETF潮即将到来

As regulatory agencies accelerate the review process for cryptocurrency spot ETFs, a new wave of investment opportunities is emerging in the market. Not only are Bitcoin-related ETFs expected to be approved quickly, but various altcoin ETFs may also follow suit, providing investors with more choices between traditional finance and the crypto market. If you want to seize this potential opportunity, it’s crucial to understand the upcoming ETF trend.

The U.S. Securities and Exchange Commission (SEC) is revising the regulations regarding cryptocurrency spot ETFs. This move is interpreted by industry experts as a potential reduction in the approval process. According to reports cited by CoinDesk, regulators have requested some issuers to withdraw their previously submitted 19b-4 documents, indicating that some products may no longer need to go through the cumbersome “dual-track” review process.

Commodity-based exchange-traded products no longer require the 19b-4 document.

Under the previous system, applying for a cryptocurrency spot ETF required two steps: first, the exchange must submit a 19b-4 document to the SEC requesting rule changes; second, the issuer must submit an S-1 registration statement. Only after both documents are approved can the ETF be officially listed. The entire process was often lengthy and complex, with delays potentially reaching up to 240 days.

But things changed when the SEC approved the so-called “General Listing Standards” at the beginning of this month. Under the new rules, as long as a proposed product is classified as a Commodity ETP and meets the newly established standards, it can bypass the 19b-4 filing process altogether, allowing it to proceed to final review solely based on the S-1 filing. This means that the approval process is expected to be shortened from several months to just weeks, or even days.

Analyst: Cryptocurrency spot ETFs could be approved soon

Bloomberg ETF analyst James Seyffart noted that the new mechanism could indeed lead to “extremely fast approvals,” but he also emphasized that there is no guarantee of success. He reminded investors that the SEC has not yet approved Bitwise’s conversion of its crypto index fund BITW into an ETF. This suggests that regulators may adopt a “first come, first served” approach, approving products in batches over time. It’s also possible that multiple products of the same type could be approved at the same time.

Another Bloomberg ETF analyst, Eric Balchunas, was even more direct, saying that the probability of approval is now almost 100%. The General Listing Standards make the 19b-4 filing process and related approval times completely meaningless. All that remains is the S-1 filing, which is awaiting official approval from the SEC’s Finance Department. They have just submitted their fourth amendment to the Solana listing application. A new ETF could be approved at any moment—so everyone should be prepared.

The pace of listing of crypto spot ETFs may exceed expectations

In the past few months, asset management companies have become increasingly active in the field of crypto spot ETFs. The applications they submitted cover various mainstream tokens such as Solana (SOL), Ripple (XRP), Litecoin (LTC), and Dogecoin (DOGE). According to the old process, these applications required the inclusion of both the 19b-4 and S-1 documents. However, under the new regulations, it is expected that the approval process will be significantly accelerated, and the time required for ETF products to be listed may exceed previous expectations.

Nevertheless, Seyffart also pointed out potential risks. He warned that the political and fiscal situation in the United States remains uncertain. If there is another government shutdown, not only might the ETF approval process be delayed, but the confidence of the entire market could also be affected.

Overall, the SEC’s latest measures are seen as a signal of the gradual mainstreaming of crypto assets. However, whether ETFs can truly be implemented quickly still depends on the speed at which regulatory authorities implement these measures and the stability of the external environment.