Dogecoin (DOGE) and XRP are rallying as their ETF launches coincide with the SEC announcing “generic listing standards” for crypto exchange-traded products. Bitwise CIO explained that new rules could allow automatic approvals within 75 days if filings meet requirements. Potential ETF criteria include regulated futures contracts, opening the door for Solana, Chainlink, Cardano, and more.

After rule changes for traditional ETFs in 2019, annual launches more than tripled. Experts believe the ease of access for crypto ETPs could boost visibility, legitimacy, and volatility across altcoins. CryptoQuant’s head of research predicts 1% to 4% of XRP’s circulating supply could be absorbed by ETFs in the first year.

Bloomberg Senior ETF Analyst Eric Balchunas reported that the DOJE ETF volume hit $5.8 million in the first hour, exceeding most ETF launches. The spot XRP ETF volume of $24 million within 90 minutes is five times the volume of futures XRP ETFs, highlighting demand for the products.

Read more at Yahoo Finance: Dogecoin, XRP Spot ETFs See Record First-Hour Trading Volumes As SEC Announces New Listing Standards