Analyst: SEC's new ETP listing standards mean a large number of crypto ETFs are about to be approved, and Coinbase and CFTC's decision-making power will increase

On July 31, the U.S. Securities and Exchange Commission (SEC)'s cryptocurrency ETP "listing standards" were released today through a new trading platform filing. The document indicates that any token listed on the Coinbase Derivatives Exchange platform and whose futures trading has continued for more than 6 months is likely to be approved (for an ETF).

Market analyst @qinbafrank stated that the three implications of this significant change include:

1. It means that a large number of spot crypto ETFs are about to be approved;

2. Coinbase is the biggest beneficiary, and its crypto futures listing will be sought after by various project teams;

3. It means that the SEC's approval power for spot crypto ETFs is brought forward to the CFCT (Commodity Futures Trading Commission), because the CFCT is the main decision-making regulatory agency that determines which assets can have futures contracts.

BlockBeats previously reported that on July 21, Coinbase announced the launch of US Perpetual-Style Futures on the Coinbase Derivatives Exchange platform. This product retains the core functions of global perpetual contracts while fully complying with US regulatory standards. [BlockBeats]