Cryptocurrency journalist Elenoa Terret shared a notable development with the public following easing the Securities and Exchange Commission (SEC) stance on cryptocurrencies. According to Terrett, the SEC is in the early stages of working with the exchange to create a universal list standard for token-based Exchange-Traded Funds (ETFs).
The new approach allows the issuer to submit form S-1 directly, which bypasses the 19B-4 filing, if the token meets the specified criteria. This is currently a long and detailed process. In this case, after a 75-day waiting period, the associated token ETF is listed directly in the exchange. Terrett points out that this method saves both critical time and bureaucratic processes for both the issuer and the SEC.
However, it is not yet clear what the listing criteria will be. There are various speculations that market value, trading volume and liquidity could be one of the main criteria.
The SEC declined to issue an official statement regarding the development.
*This is not investment advice.
