A New Era Begins in the Crypto Market
The U.S. Securities and Exchange Commission (SEC) is maintaining its general listing standards for commodity-based exchange-traded funds (ETFs). This decision opens the door not only to Bitcoin and Ethereum but also to numerous altcoin ETFs. This long-awaited development in crypto has once again shifted the focus of the market to altcoins.
After Bitcoin and Ethereum, Altcoins Are Next
Bitcoin and Ethereum-based ETFs were approved and began trading on US exchanges the same year. This step changed the way traditional money accessed crypto, and the market's focus shifted to altcoin ETF applications. However, until now, the approval process for altcoin-focused funds has been lengthy and uncertain.
With the SEC's new origins, this process is undergoing a radical change. Now, funds will be able to be heard without undergoing lengthy due diligence processes.
12 Altcoins Stand Out
According to the new currencies, cryptocurrencies traded in ETFs must be traded in an authorized currency and have been traded for at least six months. Altcoins that meet this requirement and are specifically listed on the Coinbase trading platform include:
Litecoin (LTC)
Bitcoin Cash (BCH)
Polka Dot (DOT)
Avalanche (AVAX)
Chainlink (LINK)
Star (XLM)
Hedera (HBAR)
The ETF applications for these 12 assets are expected to be processed quickly.
Initial Comments from Analysts
Eric Balchunas, Bloomberg's senior ETF analyst, emphasized that this decision is critical for the crypto market. According to Balchunas, "Thanks to the SEC's new regulation, the path for institutional introductions to the altcoin market has been opened. This could create a significant impact in terms of market depth and trading volume."
Grayscale Receives First Approval
Following the decision, the SEC made its first move. The Grayscale Digital Large Cap ETF, which includes Bitcoin, Ethereum, XRP, Solana, and Cardano, has been approved for trading under the new general listing standards. This development clearly demonstrates that altcoin ETFs are now moving from theory to practice.
Conclusion: A New Era in the Crypto Ecosystem
This decision by the SEC opens the door to a new era in the crypto ecosystem. Market competition and capital inflows are expected to accelerate, particularly as institutional activity gains easier access to altcoin ETFs.
For altcoin investors, this development is crucial not only in terms of price appreciation but also legitimacy and trust. The long-awaited "ETFs" in crypto appear to be finally starting to appear for altcoins.
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