Chainlink price

On September 17, local time, the U.S. Securities and Exchange Commission (SEC) "accelerated" the approval of the Generic Listing Standards for cryptocurrency exchange-traded funds (ETFs), paving the fast lane for related products to enter public offerings and trading. 1. General listing standards: from "case-by-case approval" to "one-click listing" Previously, the listing of crypto ETPs was a long, expensive, and high-risk process. Issuers are required to submit special applications for each new asset to prove that their market is sufficiently liquid and not manipulated, and the SEC has a review period of up to 240 or even 270 days. The impact of the Common Listing Standard was revolutionary: Process Simplification and Acceleration: ETPs are almost guaranteed to be approved as long as they meet certain requirements explicitly set forth by the SEC, and the process time is significantly reduced to 75 days or less. And allows standards-compliant crypto ETPs (exchange-traded products) to be listed for trading without the need for a 19 b-4 form. Exchange Option Pre: Most proposals within the industry argue that the Universal Listing Standard should require that the underlying asset must have futures contracts on regulated U.S. futures exchanges for trading. Eligible exchanges include CME, Cboe, and possibly even CoinbaseDerivatives Exchange and Bitnomial, among others. First beneficiaries: The SEC has approved exchange listing standards and swiftly approved transactions for the Grayscale Digital Large Cap Fund, which primarily holds BTC, ETH, and others. 2. Explosive product growth: history repeats itself Bitwise Chief Investment Officer Matt Hougan predicts that the Universal Listing Standard will trigger an explosion in the number of crypto ETPs, with historical experience supporting this view: Precedent for traditional ETFs: After the SEC passed the "ETF Rules" in late 2019 to create a common standard for stock and bond ETPs, the rate of new ETF launches immediately more than tripled, from an average of 117 per year to 370 per year. Crypto Market Expectations: The same expansion is expected in the crypto ETP space. Altcoins that qualify for futures contracts, such as Solana, XRP, Chainlink, Cardano, Avalanche, Polkadot, etc., will usher in ETPs and attract a large number of traditional asset managers to enter the space. 3. Macro double benefit: the superposition of interest rate cuts and ETP waves The regulatory breakthrough for ETPs comes at a time when U.S. macro policy is shifting: Fed pivot: The Fed announced a rate cut on the same day, which Powell called a "risk-managed rate cut," making it clear that the labor market "doesn't need to soften any more." This marks a shift in the Fed's policy focus from controlling inflation to protecting jobs, and is expected to start a cycle of interest rate cuts with abundant liquidity. Liquidity and channels: The interest rate cut cycle will release more capital flows to risk assets; The ETP Universal Standard provides the most convenient way to access this part of the capital. 4. Impact on the price of crypto assets In his report, Bitwise Chief Investment Officer Matt Hougan said that the existence of an ETP itself does not guarantee inflows, but it prepares for an "explosion" of the asset. Unlock Traditional Capital: The vast majority of funds worldwide are controlled by traditional investors. With ETPs, these investors can easily configure crypto assets through brokerage accounts without dealing with complex wallets and private keys. Reduce "mystery": ETPs transform cryptocurrencies from "unfamiliar tokens exclusive to geeks" into trusted tickers. This lowers the barrier to entry and fear for ordinary investors, making it easier to connect Chainlink with applications such as Mastercard partnerships, stablecoins, and more. Reservoir of Funds: ETPs are equivalent to establishing a huge reservoir of funds for assets. Once the fundamentals of an asset (e.g., Solana activity, Ethereum ecosystem development) start to improve, funds will pour in at a very fast and large scale, triggering rapid price increases. In conclusion, with the removal of SEC regulatory barriers and the start of the Fed's interest rate cut cycle, this "ETP explosion" will completely release pent-up crypto capital and innovation, accelerating the mainstreaming process of cryptocurrencies.