SEC faces a key ETF proposal: possible expedited approval for 12 altcoins
Three major U.S. exchanges — CBOE, Nasdaq, and NYSE — have jointly submitted a proposal to the SEC to simplify and expedite the approval process for crypto ETFs.
🔍 What is proposed?
Introduction of standard listing criteria
If approved, ETFs for the relevant tokens will no longer require individual approval through the 19b-4 process
This could reduce the approval time from 240 days to just a few days
💼 Influential assets
If accepted, ETFs for these 12 coins could be expedited:
$LTC, $BCH, $BTC, #DOT, $SHIB, $AVAX, #LINK, #XLM, #Solana, #HBAR, $ADA, $XRP
🛡 Eligibility:
The asset must have been traded on a regulated futures market (e.g., Coinbase Derivatives) for at least 6 months
📊 According to ETF analyst Eric Balchunas, this rule could open automatic approval for spot ETFs for the listed altcoins — a significant step forward for cryptocurrency adoption in traditional finance.
👀 All eyes on the SEC decision — this could open the door for a wave of new altcoin ETFs.