CBOE Submits Universal Listing Standards for Crypto Asset ETPs, SOL and XRP ETPs Expected to Launch in Q4

PANews reported on July 31st that Greg Xethalis, General Counsel of Litecoin Capital, stated on the X platform that the CBOE has submitted an application for universal listing standards for crypto asset ETPs, and the New York Stock Exchange and Nasdaq are expected to follow suit soon. The new rules allow crypto asset ETPs whose underlying contracts have been listed on designated contract markets for at least six months to be listed on the exchange, and also support staking. The Solana ETP is expected to be approved by October 10th at the latest, and the XRP ETP will be approved slightly later. Both are expected to launch in the fourth quarter. Bloomberg ETF analyst Eric Balchunas retweeted that the U.S. Securities and Exchange Commission (SEC) has issued "listing standards" for crypto ETPs (exchange-traded products) through new exchange filings. Any token tracked by futures on the Coinbase derivatives exchange for at least six months will be approved, covering approximately a dozen major cryptocurrencies. Tokens without futures or emerging meme coins (such as Bonk and Trump Coin) will need to go through other regulatory procedures, such as the 40 Act. The market expects approval to occur between September and October.