According to CoinMeta, the U.S. Securities and Exchange Commission (SEC) is considering a series of rules to expand retail investors' access to private equity and venture capital, while also revising the criteria for qualified investors. At a meeting on September 30th, the SEC was weighing proposals regarding performance-based investment fees, intervals, and closed-end funds, as well as standards that could change the qualifications for qualified investors. These proposals have not yet been finalized, but they all point towards a broader effort to make the private market more accessible to retail investors. As some of the world's most valuable companies remain private for longer periods, the demand from retail investors for early-stage investments has become evident in the crypto market, with the monthly trading volume of perpetual contracts expected to be around $12 billion. The SEC is also considering regulated fund structures that would allow for easier holding of less liquid private assets, which could bring investment opportunities in private equity or private credit to investors through familiar investment tools, rather than direct participation in private transactions.