Analyst expects crypto ETFs to double on new SEC rule
The Securities and Exchange Commission (SEC) slashed requirements yesterday afternoon for spot crypto ETF applicants, and analysts are predicting a wave of new listings. Bloomberg’s senior exchange-traded fund (ETF) analyst predicted 100 new US crypto ETFs within 12 months, for example, after commissioners’ newly published Generic Listing Standards. For context, there are currently fewer than 30 spot crypto ETFs trading on US exchanges and about 97 total crypto ETFs, including leveraged, inverse, and derivatives-based products. “The last time they implemented a generic listings standards for ETF, launches tripled ,” noted Bloomberg’s analyst. “Get ready for a wave of spot crypto exchange-traded product launches in coming weeks,” agreed another. Galaxy Research believes there are 14 digital assets that will quickly qualify for expedited listings of new spot crypto ETPs: BTC, ETH, XRP, SOL, BCH, ADA, DOGE, LTC, LINK, XLM, AVAX, SHIB, DOT, and HBAR. Also yesterd...