The SEC has just made a big move - it approved a unified listing standard for the crypto assets exchange-traded product (ETP), directly cutting the approval period down to 75 days. What does this mean? The threshold has been lowered, efficiency has increased, and the issuance of crypto ETFs has become much easier.

Insiders are doing the math: at this rate, there could be over 100 Crypto Assets ETFs flooding the market by 2026. Sounds tempting, right? But new opportunities also come with new risks.

The most concerning issue is the excessive concentration of custody rights. Currently, some mainstream custodians in the market hold absolute power, and if these institutions encounter problems, the entire ecosystem may experience a chain reaction. Analysts refer to this as "single point of failure risk" – it sounds uncomfortable.

The new regulations allow for the creation and redemption of ETPs in physical form, which indeed enhances market liquidity and efficiency. However, if the concentration issue is not resolved, even more ETFs may become fragile paper tigers. The SEC chairman stated that this is the focus of establishing an efficient regulatory framework, but the real test is yet to come.