Bitwise CIO: SEC Proposal for Universal Listing Standards Could Trigger Explosive Growth in Crypto ETPs

BlockBeats News, September 16th, according to The Block, Matt Hougan, Chief Investment Officer (CIO) of the cryptocurrency asset management company Bitwise, stated that although September has historically been a weak month for cryptocurrency performance, the U.S. Securities and Exchange Commission's (SEC) proposed universal listing standard could completely open up the market. He pointed out that interest rate cuts, inflows into ETPs, increased focus on the U.S. dollar, as well as the momentum of tokenization and stablecoins, all set the foundation for a year-end rebound.

Hougan explained that currently, every new spot cryptocurrency ETP requires a separate application to the SEC, with an approval period of up to 240 days and no guarantee of approval. The first spot Bitcoin ETP application occurred in 2013, but the SEC did not approve the first batch of products until 2024. The introduction of a universal listing standard will allow eligible ETPs to go live without individual applications, improving approval efficiency and shortening the approval process.

This move means that cryptocurrency ETPs could receive predictable approval in as little as 75 days, and with more futures markets going live, it will unleash a large number of new products.