Key Notes
- SEC has withdrawn all delay notices for Solana, XRP, HBAR, Litecoin, signaling accelerated progress toward approvals.
The approval of generic listing standards for crypto ETFs will lead to faster SEC approvals.
Multiple ETF products are now expected to receive the green light, raising anticipation of a strong “Uptober” rally.
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The crypto community has been eagerly waiting for October as the US Securities and Exchange Commission (SEC) faces the deadline for the approval of crypto ETFs for some of the top altcoins like Litecoin
LTC
$105.9
24h volatility:
2.3%
Market cap:
$8.09 B
Vol. 24h:
$366.65 M
, XRP
XRP
$2.87
24h volatility:
3.3%
Market cap:
$171.73 B
Vol. 24h:
$3.76 B
, Solana
SOL
$208.1
24h volatility:
3.5%
Market cap:
$113.11 B
Vol. 24h:
$5.22 B
, Cardano
ADA
$0.80
24h volatility:
3.7%
Market cap:
$29.14 B
Vol. 24h:
$1.13 B
. The first in line is Canary Capital’s spot Litecoin ETF, facing the deadline this week on Oct. 2.
LTC, XRP, SOL Crypto ETFs Could Dominate Uptober Rally
With the SEC’s approval of generic listing standards for crypto ETFs earlier this month, investors are now awaiting the SEC greenlight for several filings recently. Last week, the SEC already approved the Hashdex Crypto Index ETF, comprising top digital assets like BTC
BTC
$112 100
24h volatility:
2.3%
Market cap:
$2.23 T
Vol. 24h:
$43.10 B
, ETH
ETH
$4 135
24h volatility:
3.4%
Market cap:
$499.04 B
Vol. 24h:
$27.55 B
, XRP, SOL, etc.
The next in line awaiting approval is the spot Litecoin ETF by asset manager Canary Capital. Also, the Canary spot Litecoin ETF is scheduled to list on Nasdaq. Moreover, the SEC has withdrawn its decision to extend the review period for the product, signaling a quicker path to market.
The move follows the commission’s approval of generic listing standards for crypto ETFs earlier this month. The SEC has also withdrawn its notice of a longer review period for the CoinShares Litecoin ETF, raising expectations that multiple Litecoin ETFs could gain approval.
Bloomberg analysts Eric Balchunas and James Seyffart have previously noted that there’s a 95% chance that the SEC will approve the spot Litecoin ETF. Nate Geraci, the co-founder of The ETF Institute, said the coming weeks will be “enormous” for spot cryptocurrency ETFs.
SEC Withdraws Delay Notices for Solana, XRP, HBAR and Other ETFs
The US SEC has withdrawn all delay notices for pending crypto ETF applications, covering products tied to Solana, XRP, HBAR, and others, according to the details shared by Bloomberg ETF strategist James Seyffart. The move follows the regulator’s approval of general listing standards for crypto ETFs earlier this month.
Among those affected are Solana ETF proposals from Bitwise, VanEck, Fidelity, Canary, 21Shares, and Invesco Galaxy. Delay notices were also dropped for XRP ETF filings from Bitwise, Franklin, WisdomTree, Canary, CoinShares, and 21Shares.
In addition, the SEC withdrew notices for the Canary HBAR ETF, CoinShares Litecoin ETF, Canary Litecoin ETF, and 21Shares Polkadot ETF. This clearly signals accelerated progress toward potential approvals.
Furthermore, the SEC has also removed notices extending the review period for Ethereum staking ETF proposals, signaling faster progress toward potential approval.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
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Source: https://www.coinspeaker.com/altcoin-etfs-sec-deadlines/
