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In yesterday’s edition of the Forward Guidance newsletter, Felix Jauvin broke down Wednesday’s Fed rate cut. But it’s also important that we shed some light on the other big thing that went down on Sept. 17.

That would be the SEC approving general listing standards for commodity-based trust shares (a.k.a. crypto ETPs). This was not an unexpected approval by any means, as we knew the SEC was working through this. But the timing seemed to surprise some people, coming a bit earlier than expected. 

The US securities regulator shortly after lifted its “stay order” related to…

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