The American Securities and Exchange (SEC) commission has informed the fundraising proposed funds on the funded funds (ETF) for Litecoin, XRP, Solana, Cardano and Dogecoin to withdraw their in-laws 19B-4 deposits.
This decision follows the approval by the agency of September 18 of generic registration standards, which rationalize the process to put on the market new cryptocurrency ETF.
The instruction does not represent a backhand for transmitters. Instead, he reflects a change of procedure which eliminates the need for changes in the exchange rule on a case -by -case basis for each token.
The Crypto ETF market develops beyond
As part of the new framework, exchanges such as Nasdaq, CBOE BZX and NYSE ARCA can list cryptographic ETFs under generic rules, provided that the products meet the predefined criteria.
The transmitters now advance directly with the S-1 recording instructions, the last step before an ETF can be launched.
The withdrawals of 19B-4 deposits now not useless should start this week, with several October deadlines approaching existing applications.
At least 16 proposals covering tokens beyond Bitcoin and Ethereum remain during a dry examination. The change is part of what regulators describe as a maturation framework for cryptocurrency financial products.
The agency approval of generic standards has been designed to provide a stable platform for digital assets while including exemptions that encourage the development of the chain capital market.
The president of the SEC, Paul Atkins, said that the new executive reduces obstacles while maintaining the protection of investors, noting that the rules support innovation without compromising surveillance.
For transmitters, including Grayscale, 21scs and Vaneck, the change is important. Previously, each product required two separate approvals: one of the exchange via a 19B-4 file and another of the asset manager via an S-1.
The double process has often stretched nine months or more. With generic standards in place, deadlines can shrink up to 75 days.
The SEC has already applied the new framework in practice. On September 18, the regulator approved the Graycale’s large capitalization digital fund (GDLC), the first multi-Crypto exchange to register in the rationalized system.
GDLC offers an exposure to Bitcoin, Ether, XRP, Solana and Cardano, and currently manages more than $ 915 million in assets. His approval marked a turning point for multi-active cryptographic products on the American market.
The change comes in the middle of a flood of new deposits. On September 17, the issuers submitted at least five FNB FRADS proposals, ranging from an avalanche ETF to the Bitwise point to the “income” funds from Tuttle covering Bonk, Litecoin and Su.
The co-founder of the ETF Institute, Nate Geraci, said that applications demonstrate how speed is developing beyond traditional Bitcoin and Ethereum products.
Dry faces a wave of deadlines from Crypto ETF like Solana, XRP deposits near the key dates
Over 92 ETF Crypto applications are now pending before the dry.
The deadlines for several of these deposits fall in October and November. The Solana and XRP applications of Franklin Templeton and XRP face a decision of November 14 after the SEC used its maximum popularization authority of 60 days earlier this month.
The BlackRock amendment to add stimulation to his Ishares Ethereum confidence is now due on October 30. The decision of Grayscale’s confidence is scheduled for November 12, while the proposals linked to Dogecoin, Litecoin and other altcoins are dispersed on the same period.
Bloomberg analysts are planning 95% of approval for Solana and XRP ETF before the end of the year, despite repeated extensions. The prediction markets reflect similar optimism, with Polymarket ratings on Solana ETF approval currently 99%.
Analysts argue that the new standards make the chronology less dependent on official deadlines, because the SEC can approve S-1 deposits at any time if the products meet the conditions of eligibility.
The SEC also coordinated with the ComboDity Futures Trading Commission (CFTC) on a wider regulation of digital assets.
A joint round table is planned to align the approaches between agencies as part of President Atkins’ Project Crypto initiative, launched in July to modernize the rules of titles for the digital age.
For investors and transmitters, the withdrawal of documents 19B-4 shows how the regulatory environment passes obstacles on a case-by-case basis to standardized procedures.
While many products are still waiting for an exam, the rationalization of the procedure shows faster paths to the market for a wide range of cryptocurrency.
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