The U.S. Securities and Change Fee (SEC) has reportedly requested exchange-traded fund (ETF) issuers to withdraw their 19b-4 filings for XRP, Litecoin (LTC), Solana (SOL), Cardano (ADA), and Dogecoin (DOGE) ETFs.
This comes after the SEC lately authorised new generic itemizing requirements for commodity-based ETFs, together with cryptocurrency-based ones.
Issuers will begin withdrawing their functions as early as this week, which means that it’s only a matter of time till such ETFs will develop into publicly tradable.
Large change
Usually, every ETF needs to be authorised below Part 19(b) of the Securities Change Act of 1934. The approval course of is often prolonged and daunting.
You Would possibly Additionally Like
Now, nonetheless, if a sure product meets particular eligibility standards, it may well safe a much-coveted itemizing at a a lot sooner tempo. Such commodities are imagined to have CFTC-regulated futures contracts (amongst another necessities).
Earlier, a number of analysts predicted that the brand new itemizing commonplace would unleash a wave of latest spot cryptocurrency ETFs.