Core Insights - The SEC has implemented changes that could significantly expedite the approval process for crypto ETFs in the United States, reducing wait times from eight months to approximately two and a half months [1][2]. Group 1: Changes in Approval Process - Previously, each crypto ETF required a double approval process involving both the exchange and the fund manager, leading to delays and uncertainty [2]. - The new system allows funds that meet specific criteria to move through the approval process more quickly, streamlining the path for ETFs linked to various cryptocurrencies beyond just Bitcoin and Ethereum [2][4]. Group 2: Beneficiaries of the New System - Solana and XRP are positioned to benefit first from the new approval process, with existing ETF filings for both tokens likely to advance more rapidly [3]. - Other cryptocurrencies may also gain access to the ETF market if they meet the established requirements, marking a significant shift from the previous individualized treatment of each ETF application [3]. Group 3: Market Implications - The acceleration of ETF approvals could lead to a wider array of options for investors, enhancing accessibility to crypto investments through traditional finance platforms [5]. - This change may foster innovative fund structures and promote broader adoption of cryptocurrencies, although there are concerns about the potential for lower-quality products entering the market due to the expedited process [5][6].