Analysis: With the SEC considering to expedite the approval framework, the "gate" for Crypto Assets ETFs is about to open.

PANews, July 9 - According to The Block, the U.S. SEC seems poised to approve multiple Spot Crypto Assets ETFs, with key stakeholders considering a framework that could expedite the listing process. Sources say that last week, the SEC raised questions about details such as staking in a SOL ETF proposal, although the communication was constructive. Insiders indicate that approval is only a matter of time, though the specific timing is not yet determined. On Tuesday, at the WOLF Trading event, Gregory King, founder of Osprey Funds and Rex Shares, stated that the SEC's attitude has shifted; while they will not act recklessly, they support Crypto Assets. Last week, the SEC approved a mixed Crypto Assets fund from Grayscale, but that approval was subsequently paused. Insiders say the SEC is proceeding in phases, starting with Bitcoin, then Ethereum, and now considering mixed assets ETFs. Currently, the SEC is formulating listing standards and plans to shorten the review period. This initiative is driven by exchanges and aims to align with traditional ETF practices. 21Shares stated that they have not directly communicated with the SEC but believe the new framework could drop the complexity and uncertainty of listings. Bloomberg Industry Research ETF analyst James Seyffart expects a draft framework to be released this month, with implementation in September or October, at which point the gates for other asset ETFs will open. Analyst Eric Balchunas recently estimated that the SEC has a 95% chance of approving ETFs tracking SOL, XRP, and LTC, and a high likelihood of approval for ETF proposals tracking Dogecoin, Cardano, and Polkadot, around 90%.