The US Securities and Exchange Commission (SEC) has indicated Litecoin, XRP, Solana, Cardano and Dogecoin to retrievers (ETFs) to retrieve their waiting form 19B-4-4.
This step follows the agency on September 18th. Confirm the generic lists standards that simplify the process of new cryptocurrency ETF to the market.
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The instruction does not mean the failure of issuers. Instead, it reflects the procedural displacement that eliminates the need for amendments to the rules for changing each access key.
Under the new system, exchange such as NASDAQ, CBOE BZX and NYSE ARCA can list cryptocurrency ETFs according to general rules if the products meet the pre -established criteria.
The issuers now directly use S-1 registration reports, the last step before the ETF may be started.
It is expected that unnecessary 19B-4 applications will now begin this week and several October. In the run -up to applicable applications, several terms will apply.
At least 16 offers covering the tokens behind Bitcoin and Ethereum remained the Secret of the SEC. The displacement is part of what the regulatory authorities describe as a system of ripening the cryptocurrency financial products.
The agency has approved generic standards and has been designed to have a stable digital assets ETF platform, including exceptions to the development of chain capital market.
Paul Atkins, chairman of the SEC, said the new system reduces obstacles while maintaining protection for investors, noting that the rules support innovation without harming maintenance.
The change of issuers, including Gracale, 21shares and Vaneck, is important. Previously, each product needed two separate approvals: one of the stock exchange in 19B-4 and the other a property manager over S-1.
The double process often lasted nine or more months. The terms may shrink up to 75 days with common standards.
The SEC has already practically adapted a new system. September 18th. The regulator has approved the Greyscale Digital Large Cover Foundation (GDLC), the first multifaceted replacement exchange product provided on a simplified system.
GDLC offers Bitcoin, Ether, XRP, Solana and Cardano and currently manages more than $ 915 million. USD assets. Its approval noted the turn of the multimedia cryptocurrency products in the US market.
Changes occur during the flood of new applications. September 17 The issuers have submitted at least five new ETF offers, starting with the Avalanche ETF bit to the Tutettle Income Explosion Funds covering Bonk, Litecoin and Sui.