Securities and Exchange Commission (SEC) New Listing Rules Encourage Cryptocurrency ETF Growth, Highlighting Potential Top Investment Opportunities in the 'Waves' Sector
In a move that could revolutionise the crypto market, the Securities and Exchange Commission (SEC) has unveiled a broader approval process for Exchange-Traded Products (ETPs) aimed at streamlining future ETF listings. According to senior ETF analyst Eric Balchunas, this development could pave the way for a wave of ETF approvals in the coming months.
Under the new generic protocols, ETPs can now list without an extra layer of approvals from the SEC. This significant shift is expected to expedite the listing process and reduce the regulatory burden on new ETFs.
Crypto ETFs on the Horizon
Several prominent firms, including WisdomTree and Grayscale, have thrown their hats into the ring, filing applications for Ripple (XRP) and Chainlink (LINK) ETFs respectively. If approved, these ETFs could join the ranks of crypto ETFs that are actively being developed and could receive regulatory approval imminently.
WisdomTree's Ripple ETF application is particularly noteworthy, as it may secure approval within the next two months. The approval of these ETFs could open the floodgates for a surge of crypto ETFs entering the market.
Crypto Projects Raising Funds
Meanwhile, two cryptocurrency projects, Remittix and Bitcoin Hyper, are currently in the fundraising stage. Remittix, a project that allows for sending crypto payments to bank accounts worldwide without revealing the transaction's crypto origin, has accumulated $25.98M from early investors. Each Remittix token (RTX) is priced at $0.1080.
Bitcoin Hyper, a low-cap coin with a mission to improve Bitcoin's real-world utility, has already raised over $16.5M in its presale. Each Bitcoin Hyper token ($HYPER) is priced at $0.012935. According to a $HYPER price prediction, the token could hit $0.20 by year-end, offering a potential 1,400% return on investment.
Snorter Token Enters the Scene
Another cryptocurrency project, Snorter Token ($SNORT), is making waves in the Solana meme coin trading world. Snorter Token is currently available for $0.1047, and the project has raised over $3.97M from early investors. According to a Snorter Token price prediction, investing $100 into $SNORT now could potentially turn into $1,000 by the end of 2025.
Snorter Token is built to bring parity to the Solana meme coin trading world, allowing for buy/sell limit and stop orders. The project also boasts the integration of the Solana Virtual Machine (SVM), enabling a never-before-seen Web3 environment, including DeFi trading apps, NFT marketplaces, lending, staking, DAOs, and gaming dApps.
Crypto ETFs Eligibility Criteria
To qualify as a crypto spot ETF, a product must either hold a commodity that trades on the market or be part of the Intermarket Surveillance Group, be based on an underlying futures contract that has been traded for at least six months, or automatically qualify if it's already tracked by another ETF with at least 40% exposure.
Delayed ETF Applications
Despite the positive momentum, the SEC has delayed applications for BlackRock's Ethereum ETF, Franklin Templeton's Solana and XRP ETF proposals, and other ETF proposals related to Solana and XRP. This delay could potentially slow the pace of crypto ETF approvals in the short term.
However, with the SEC's broader approval process now in place and a wave of ETF-ready applications waiting in the wings, it seems that the future of crypto ETFs is looking brighter than ever. Following Balchunas' suggestion, we could see at least 12 to 15 crypto-based ETFs launched within the next two months.
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