SEC Proposes New Rules Potentially Enabling Solana Crypto ETP Launch by Q4 2025
Main Idea
The SEC has proposed new rules that could enable the launch of Solana and XRP ETPs by Q4 2025, streamlining the approval process with uniform listing standards and reducing approval times.
Key Points
1. The SEC's new rules require at least six months of futures trading on Coinbase Derivatives for ETP eligibility, replacing the need for individual 19b-4 filings.
2. Solana and XRP ETPs are expected to meet the new criteria by October 2025, with filings from major exchanges like CBOE, NYSE Arca, and Nasdaq supporting their launch.
3. The proposal includes liquidity risk management, requiring 85% of assets to be quickly redeemable to improve fund stability and investor protection.
4. Federal legislative measures, such as the CLARITY Act and the CBDC Anti-Surveillance State Act, complement the SEC’s regulatory framework.
5. The new rules aim to enhance market stability and investor access by providing regulatory clarity and efficiency for crypto ETFs.
Description
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