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" “Wen altseason?” It’s the question on the minds of every crypto investor, with answers varying depending on who you ask. But what if we told you that not only could we now have a potential answer, but that this altseason will be kicked off by none other than the SEC?
Just months ago, the very idea of this would have been insanity - but crypto has changed folks, and the SEC may have just paved the way for alts to pump like you’ve never seen. That’s because the SEC just approved new listing standards that will speed up the approval process for spot ETFs for any crypto. Put differently: almost any altcoin can now get an ETF.
So today, we break down this announcement, tell you which cryptos are next in line for an ETF, and what this means for altcoin prices. This is a video you do not want to miss."
~ Coin Bureau
The video discusses how the SEC's approval of new generic listing standards for spot crypto Exchange Traded Products (ETPs) on September 17, 2024, is expected to fundamentally change the altcoin market. Following the earlier approvals of spot Bitcoin and Ethereum ETFs, these new standards significantly speed up the approval process for spot crypto ETPs, allowing exchanges like NASDAQ, NYSE, and CBOE BZX to list ETPs holding spot commodities without needing individual SEC approval for each listing. This development is seen as a major catalyst for increased crypto adoption, particularly for altcoins, as SEC chairman Paul Atkins has stated that most crypto is considered a commodity. This means any altcoin meeting specific criteria—such as trading on an exchange with regulatory monitoring or having a futures contract on a regulated market for at least six months—can now potentially get an ETF listed, regardless of whether it's for a single cryptocurrency or a basket of multiple cryptos.
The approval of these new standards has led to increased optimism from industry experts about a coming wave of spot crypto ETP launches. The video notes that some altcoins have already seen ETF approvals, including the Grayscale Coindesk Crypto 5 ETF (comprised of BTC, ETH, XRP, Soul, and ADA) and dedicated ETFs for XRP and Dogecoin. Success stories like the strong opening days for the XRP and Dogecoin ETFs suggest a positive outlook for future altcoin ETF listings. Approximately 12 altcoins, including Litecoin, Bitcoin Cash, Polkadot, Shiba Inu, Avalanche, Chainlink, Stellar, Solana, Hedera, and Cardano, are identified as meeting the minimum listing criteria. Furthermore, the video indicates that approval deadlines for many pending altcoin ETFs, filed under the former process, fall in mid to late October, suggesting that the coming weeks could be a critical time for a wide range of altcoins to benefit from this regulatory shift. The long-term impact is expected to depend on the inflows these new altcoin ETFs receive.
00:00 Intro
00:59 The SEC’s Announcement
03:45 Which Altcoin ETFs Will Be Approved?
07:17 Altcoin ETFs Already Pending
11:53 Will Altcoins Benefit From These ETFs?
15:11 What Comes Next?
Source - Coin Bureau YouTube: https://www.youtube.com/watch?v=fjVILDwyqqw
Disclaimer: This video is provided for informational purposes only, and not offered or intended to be used as legal, tax, investment, financial, or any other advice.
