The U.S. crypto market is ushering in a new wave of ETF revolution. Cboe (Chicago Board Options Exchange) recently submitted a new proposal to open a 'fast track' for crypto spot ETFs, accelerating the entry of mainstream tokens like XRP and Solana into the traditional financial market.
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Fast track for crypto ETFs
In the past, cryptocurrency ETFs had to be reviewed case by case by the U.S. Securities and Exchange Commission (SEC), which was time-consuming and slow. Cboe's latest proposal hopes to establish a standardized mechanism:
1. As long as the underlying token has been traded on the U.S. regulated futures market for more than 6 months, it can be automatically listed.
2. Staking-enabled ETFs need to prepare liquidity risk management plans to address the issue of redeeming staked assets.
This means that Solana (SOL) could launch a spot ETF as early as the beginning of October, with XRP possibly following soon after.
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Market appeal of XRP and Solana
XRP and Solana have already demonstrated the appetite for institutional capital:
Precedent for XRP ETFs:
The leveraged XRP ETF launched by Teucrium in April of this year has seen assets approach $400 million in just a few months.
In July, prices surged by 50%, proving high market enthusiasm for XRP exposure.
Innovation in Solana ETFs:
The staking-enabled ETF for Solana launched in July by Rex-Osprey allows investors to simultaneously gain SOL price and staking returns.
Analysts see this as a touchstone for 'demand for altcoin ETFs.'
According to JPMorgan's forecast, the XRP spot ETF could attract $8 billion in inflows in its first year.
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Potential market impact
1. Accelerate the entry of traditional capital
ETFs allow institutional investors to legally and conveniently allocate assets like XRP and SOL.
2. Opening the era of diversified crypto ETFs
In addition to BTC and ETH, more mainstream PoS coins will enter traditional investment portfolios.
3. Competition among U.S. exchanges heats up
In addition to Cboe, Nasdaq and NYSE may also follow suit, creating a wave of crypto ETF listings.
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Cboe's proposal marks the transition of crypto ETFs from a testing phase to an expansion phase. If the SEC approves, 'financialization of crypto assets' will accelerate again, and XRP and Solana may become the core of the next wave of capital inflows.
In this ETF revolution, the forces of traditional capital, the crypto market, and institutional demand are accelerating to intersect, and the real market may begin in the fall.
