- New ETF approval could expedite Cardano ETF approval.
- This huge milestone could propel the price of ADA to new ATH targets.
- The new SEC ETF listing standard guideline could lead to several altcoins pumping soon.
The SEC just announced a new, generic, and simplified set of guidelines that allows faster, if not immediate, ETF approval. This means that each ETF request need not be scrutinized individually before approval. Thus, these new ETF approval guidelines could expedite Cardano ETF approval. With simplified and clear regulations in play, the crypto market is set to explode in the months ahead.
New ETH Approval Guidelines Could Expedite New ETF Requests
Just yesterday, the SEC approved a generic ETF listing standard. By doing so, the entity eliminated the process of individual approvals for ETFs. Over the past few years, Bitcoin and Ethereum ETF approvals have become a regular feat in the crypto market. With both the pioneer crypto asset and the pioneer altcoin asset showing great promise, both ETFs went through approvals for service providers to start offering these spot ETFs as products.
Soon after their approval, ETH and BTC Spot ETFs grew incredibly popular, bringing in more assets than ever into the crypto market. The success of these Spot ETF options became so successful that globally recognized asset managers began to aggressively accumulate vast amounts of ETH and BTC, so much so that ETH and BTC supply on exchanges are hitting new lows, igniting expectations for a massive supply shock soon.
Besides that, spot ETFs became so popular that it has become an official way to bring non-crypto native users to invest in crypto without having to fully understand the technology. This popularity is now seeping into other altcoins as well, and many providers have already begun to accumulate other promising altcoins to offer futures and spot ETF services, once approvals come through.
Cardano ETF Approval May Be the First
Already, several altcoin assets have been filed for spot ETF options. Yet, approvals are yet to be made, leading to a bulk order of altcoin ETF options pending for SEC approvals. Most recently, Dogecoin (DOGE), the pioneer memecoin asset, just received approval for an ETF launch. This led to high anticipation for other altcoin ETFs to be approved soon. Presently, NEAR, ADA, XRP, SOL, and many other altcoins are waiting for their ETF approval.
As we can see from the post above, Galaxy Research highlights how the SEC’s new ETF fast-track rule could greenlight Cardano ETFs very soon. This is because ADA already has regulated futures trading, meaning it qualifies for expedited approval. If that is to be, then this isn’t just a bullish sign, it is a major milestone for ADA, and an ADA ETF would mean massive institutional access, bringing in lots of liquidity for the altcoin.
