The US SEC has approved standards to streamline spot crypto ETF approvals, reducing approval timelines. Solana, XRP, Litecoin, and Dogecoin await official approval, with deadlines approaching for other applications like Avalanche, Chainlink, and Polkadot. Industry experts see this as a bullish development, expecting a wave of crypto investment products in the US soon.

For listing, a crypto spot ETF must hold a commodity that trades on a market with surveillance access or underlies a futures contract listed for at least six months. Alternatively, it can be eligible if tracked by an ETF with at least 40% exposure on a national securities exchange, according to the SEC.

SEC Commissioner Caroline Crenshaw expressed concern over the new listing standards, cautioning that they could flood the market with unvetted products, potentially risking investor protection. She criticized the fast-tracking of unproven products without thorough review for investor safety.

Read more at Cointelegraph: SEC Approves Generic Listing Standards For Commodity-Based ETFs