Featured Image The U.S. XRP, Litecoin (LTC), Solana (SOL), Cardano (ADA), and Dogecoin (DOGE) exchange-traded fund (ETF) issuers have reportedly been requested to withdraw their 19b-4 filings by the Securities and Exchange Commission (SEC). This follows the recent approval of new generic listing standards by the SEC for commodity-based ETFs, including cryptocurrency-based ETFs. Issuers will start withdrawing their applications as early as this week, meaning that it is only a matter of time until such ETFs will become publicly tradable.
Massive change
Normally, each ETF has to be approved under Section 19(b) of the Securities Exchange Act of 1934. Most of the time, the approval process is long and intimidating. card
However, a product can now obtain a highly sought-after listing much more quickly if it meets specific eligibility requirements. Such commodities are supposed to have CFTC-regulated futures contracts (among some other requirements).
Numerous analysts had previously predicted that the new listing standard would result in an influx of brand-new spot cryptocurrency ETFs. #SEC
#ETF
#XRP
#DOGE
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SOL
208.8
+0.09%
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XRP
2.8733
-0.53%
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DOGE
0.2321
-0.04%
