The review of the cryptocurrency ETF by SEC #SECETF审批 has a significant impact on the crypto space. If approved, it will bring new funds to the crypto market, especially institutional funds, and also signifies recognition at the regulatory level, which is beneficial for the compliance of the crypto space. For example, the recent approval of Grayscale GDLC's transition to a spot ETF has opened the door for altcoin ETFs. If the review is delayed or rejected, it may undermine market confidence, lead to a decline in cryptocurrency prices, and affect the short-term trends and development expectations of the crypto space.