On July 31, Bloomberg ETF senior analyst Eric Balchunas posted on social media that the "listing standards" for the crypto ETP from the SEC (SEC) have been released through new trading platform filing documents. The core conclusion is that any Token listed on a CEX derivatives trading platform, with futures trading continuing for more than 6 months, is likely to gain approval. Currently, there are about a dozen mainstream tokens that meet the standards, similar to the previous prediction probability of over 85%. The only unanswered question is the timing; this batch of ETFs may be concentrated for approval between September and October this year. For altcoins or Meme coins (such as BONK, TRUMP, etc.) that have not yet launched futures, an ETF would need to rely on the path of the Investment Company Act of 1940, using a different product structure. And from