Today, the SEC asked future publishers of Altcoin ETFs to withdraw their Form 19b-4 application. XRP, Solana, Litecoin, Cardano and Dogecoin products can quickly get prompt approval.
However, some of these ETFs had an imminent SEC deadline. LTC products were set up to require a final decision this week. This process could lose this sense of urgency if the publisher withdraws these old proposals.
Sponsored Sponsors
AltCoin ETF list standard
When the SEC approved new listing standards for ETFs earlier this month, it seemed like a bullish development in new Altcoin products.
As investors retreat from BTC and ETH products, Altcoins may have an opportunity to take over. A new attitude from the SEC encourages even higher hopes.
According to reliable rumors, the SEC has asked future publishers of several Altcoin ETFs to formally withdraw their 19B-4 filings.
This directive concerns five important assets: XRP, Solana, Cardano, Litecoin, and Dogecoin. Both XRP and Dogecoin have seen major breakthroughs recently, but have yet to reach 100% spot products.
On the surface, the SEC’s demands look very bullish for the Altcoin ETF. If the committee formally abolishes the old process, this could speed up the new approvals across the board.
A new wave of Altcoin products could significantly boost the crypto market.
Sponsored Sponsors
New delay tactics?
Still, there is one drawback. Many of the Form 19B-4 AltCoin ETF applications were scheduled to reach a final decision soon. Prior to this announcement, the SEC was scheduled to make a solid commitment to one related product later this week.
However, since the SEC issued this new directive, ETF experts are unsure how fast the approval process for the new Altcoin will be.
If these potential issuers withdraw their submission, the Commission will exchange imminent binding deadlines for vague.
In other words, as long as this is bullish, it may also constitute a new stagnant tactic. Two months ago, the SEC approved the AltCoin ETF before issuing an extraordinary delay one day later.
The product also faced a final deadline, but this unorthodox practice managed to ease all urgency.
So far, it is unclear whether the publisher will actually withdraw the existing 19B-4 application. Some or all of these deadlines may still remain binding.
