SEC ETF Approval, many people are talking about this. I also looked into it earlier and summarized the following points:
Approval Process
1. Stringent Steps: From application submission to voting, it undergoes multiple rounds of inquiries and material supplements, similar to how the Bitcoin spot ETF was pushed forward after several supplements.
2. Department Collaboration: Multiple departments within the SEC review from different professional perspectives to ensure comprehensive approval.
Regulatory Compliance
1. Adherence to Old Regulations: Complies with existing regulations such as the Securities Act of 1933, and information disclosure must be complete and accurate.
2. Response to New Regulations: In new fields like cryptocurrency, it is necessary to balance innovation with regulation, and clarify standards for custody, valuation, etc.
Market Impact
1. Liquidity Considerations: Analyzing the impact of ETF listings on the liquidity of the underlying assets to prevent excessive speculation.
2. Prevent Manipulation Risks: Reviewing anti-manipulation measures and requiring fund managers to establish monitoring systems.
Investor Protection
1. Suitability Management: Setting entry thresholds for investors to prevent unsuitable investors from participating in high-risk products.
2. Ensuring Right to Know: Providing clear product descriptions and risk disclosure documents, allowing investors to make informed decisions.
The above content represents personal views and is for reference only.
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