Analyst: SEC's New ETP Listing Standard Implies Approval of Numerous Crypto ETFs, Coinbase and CFTC Decision-Making Will Be Elevated

News on July 31st, the U.S. Securities and Exchange Commission (SEC) Cryptocurrency ETP "Listing Standard" has released a new trading platform filing today. The filing indicates that any token listed on the Coinbase derivative trading platform and with continuous futures trading for more than 6 months is expected to receive approval to become an ETF.

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

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

2. Coinbase is the biggest beneficiary, and its launch of cryptocurrency futures will be sought after by various projects;

3. It indicates that the SEC has pre-positioned the approval authority for cryptocurrency spot ETFs to the CFTC (Commodity Futures Trading Commission) as the primary regulatory agency that decides which assets can have futures contracts.

BlockBeats previously reported that on July 21st, Coinbase announced the launch of U.S. Perpetual-Style Futures on the Coinbase derivative trading platform, a product that retains core functions of global perpetual contracts while fully complying with U.S. regulatory standards. [BlockBeats]