SEC Requests Withdrawal of Previous Crypto ETF Applications Under New Standards
- The SEC has asked issuers of cryptocurrency ETFs to withdraw earlier applications due to new listing standards.
- This change affects spot ETFs for cryptocurrencies such as Cardano, Dogecoin, Litecoin, Solana, and XRP.
- Approval now requires only the S-1 form endorsement, streamlining the ETF application process.
- Bloomberg analyst Eric Balchunas predicts a near certainty (100% chance) for the launch of these crypto ETFs.
The SEC’s new listing standards eliminate the previous requirement for the obsolete Form 19b-4, making it easier for issuers to enter the market. This regulatory shift could enhance investor access to cryptocurrency investments and diversify portfolios.
With a streamlined approval process now in place, the likelihood of launching crypto ETFs linked to popular assets is significantly increased, as indicated by Balchunas’s prediction of a full launch probability. (Source)
