SEC Considers New Listing Standards for Litecoin and Other Crypto ETPs with Futures Exposure Criteria
Main Idea
The U.S. SEC has introduced new listing standards for crypto asset Exchange Traded Products (ETPs), requiring tokens to have at least six months of futures exposure on a Designated Contract Market to qualify for listing.
Key Points
1. The SEC's new standards mandate six months of futures exposure for crypto ETP eligibility, aiming to ensure market maturity and liquidity.
2. The Chicago Board Options Exchange (CBOE) submitted a list of 18 tokens meeting the criteria, including Litecoin (LTC), Dogecoin (DOGE), and Cardano (ADA).
3. Surveillance agreements with designated markets are required to monitor trading activities and prevent manipulation, which is crucial for SEC approval.
4. The new standards are expected to accelerate the introduction of crypto ETPs on U.S. exchanges by late 2025, signaling growing institutional acceptance.
5. Previously, the SEC approved in-kind creation and redemption processes for spot Bitcoin (BTC) and Ethereum (ETH) ETFs, benefiting major issuers like BlackRock and Fidelity.
Description
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