[SEC approves encryption ETF universal standards, simplifies approval process, opens up new market opportunities｜Encryption navigator Flying Fish] In September 2025, the U.S. Securities and Exchange Commission (SEC) approved a universal listing standard for cryptocurrency spot ETFs, allowing exchanges and asset management companies to apply based on a unified standard without the need for case-by-case approval. This move by the SEC marks a shift in the approval mechanism for crypto ETFs from "case-by-case approval" to "standard passage," paving the way for the rapid listing of altcoin ETFs such as Solana and XRP. 1. Regulatory Changes: Streamlining Processes and Improving Efficiency Previously, the SEC required individual reviews for each encryption ETF application, making the process lengthy and time-consuming. The new regulations allow exchanges and asset management companies to directly submit applications that meet the standards, reducing redundant reviews. For example, the SEC has shortened the approval time from potentially 240 days to a maximum of 75 days, significantly reducing the uncertainty and costs for issuers, enabling products to be brought to market more quickly. 2. Market Impact: Institutional Funds and Market Vitality The new regulations may drive a large number of encryption ETFs to be listed, attracting institutional capital inflow. Traditional financial institutions such as BlackRock and Fidelity have submitted applications for various encryption currency ETFs including Solana and XRP. If more altcoin ETFs are approved, the overall capital scale could reach hundreds of billions of dollars, bringing unprecedented institutional capital inflow to the encryption market. 3. Ecological Transformation: Regulation and Innovation Go Hand in Hand The new regulations introduce a staking feature for encryption ETFs (such as Solana Staking ETF), providing investors with an additional source of income. The SEC's regulatory stance has shifted from "resistance" to "orderly regulation," but it has not fully standardized all encryption assets. Although the SEC chairman emphasizes a lack of support for cryptocurrencies, the policy shift towards pragmatism is driving the standardization of the encryption market. 4. Challenges and Risks: Volatility and Regulatory Uncertainty The centralized listing of encryption ETFs may exacerbate market volatility, especially during adjustments in traditional markets, where encryption ETFs could become a source of liquidity pressure. Furthermore, the SEC may still take enforcement actions against specific cryptocurrencies, affecting the fate of related ETFs. Tax efficiency and regulatory uncertainty remain risks that investors need to pay attention to. 5. Conclusion The SEC's universal standards mark a shift in cryptocurrency market regulation from strict to lenient, promoting the integration of encryption assets into mainstream financial markets. Despite facing regulatory and market risks, the new regulations provide new opportunities for institutional capital inflow and market liquidity enhancement. #SOL's potential for increase

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