The Securities and Exchange Commission (SEC) reportedly asked the Exchange-Traded Fund (ETF) issuer to withdraw 19B-4 filings for XRP, Litecoin (LTC), Solana (SOL), Cardano (ADA) and DogeCoin (Doge) ETFs.
This comes after the SEC recently approved a new generic listing standard for product-based ETFs, including cryptocurrency-based ETFs.
The publisher will begin withdrawing the application as early as this week. In other words, it's only a matter of time before such ETFs are published.
Major changes
Typically, each ETF must be approved under section 19(b) of the Securities and Exchange Act of 1934. The approval process is usually long and difficult.
However, if a particular product meets certain eligibility criteria, you can secure a very cobbeting list at a much faster pace. Such products should have CFTC regulated futures contracts (among other requirements).
Previously, several analysts predicted that the new list standard would unleash a wave of new spot cryptocurrency ETFs.
