BlockBeats News, July 31, the U.S. Securities and Exchange Commission (SEC) Cryptocurrency ETP "Listing Standard" has today released a new trading platform filing. 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 21, 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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.