SEC has until October 10 to approve or deny altcoin ETFs
The post SEC has until October 10 to approve or deny altcoin ETFs appeared on BitcoinEthereumNews.com. The US Securities and Exchange Commission (SEC) is pushing toward altcoin exchange-traded funds, especially for Solana. In a clear sign of its evolving stance, the SEC has asked issuers to amend and refile their S‑1 applications for spot SOL ETFs by the end of July. This deadline aligns with a faster, more structured approval process. The SEC has until October 10 to approve or deny such a fund. According to reports, the SEC wants to accelerate the process and approve one or more of the funds way ahead of that deadline. The first public message from the SEC about these possible products was made in June. The regulation entity included language for in-kind redemption and creation as well as staking. The filings were made by the Canary Marinade Solana ETF, 21Shares Core Solana ETF, and Bitwise Solana ETF, among others. Solana ETF applicants demand equal footing According to reports, the SEC has no plans to wait for approvals until October. This follows the Rex Shares product that got approved last week. The stance is unsurprising following the Trump crypto stance and his involvement in the industry. The SEC has historically been careful to avoid giving one issuer a first-mover advantage in the crypto ETF space. When Bitcoin and Ethereum ETFs were greenlit, the Commission synchronized approvals across multiple filers to level the playing field. Now that SSK has a head start, other Solana ETF applicants demand equal footing, and the SEC appears to be listening. SSK started trading last week, becoming the first Solana staking fund on the market. This gave it a first-mover advantage over the potential remaining Solana ETFs. The Commission had no choice but to green-light it as it falls under the Investment Company Act of 1940 and therefore, received automatic approval unless stopped by the SEC. As…
The post SEC has until October 10 to approve or deny altcoin ETFs appeared on BitcoinEthereumNews.com.
The US Securities and Exchange Commission (SEC) is pushing toward altcoin exchange-traded funds, especially for Solana. In a clear sign of its evolving stance, the SEC has asked issuers to amend and refile their S‑1 applications for spot SOL ETFs by the end of July. This deadline aligns with a faster, more structured approval process. The SEC has until October 10 to approve or deny such a fund. According to reports, the SEC wants to accelerate the process and approve one or more of the funds way ahead of that deadline. The first public message from the SEC about these possible products was made in June. The regulation entity included language for in-kind redemption and creation as well as staking. The filings were made by the Canary Marinade Solana ETF, 21Shares Core Solana ETF, and Bitwise Solana ETF, among others. Solana ETF applicants demand equal footing According to reports, the SEC has no plans to wait for approvals until October. This follows the Rex Shares product that got approved last week. The stance is unsurprising following the Trump crypto stance and his involvement in the industry. The SEC has historically been careful to avoid giving one issuer a first-mover advantage in the crypto ETF space. When Bitcoin and Ethereum ETFs were greenlit, the Commission synchronized approvals across multiple filers to level the playing field. Now that SSK has a head start, other Solana ETF applicants demand equal footing, and the SEC appears to be listening. SSK started trading last week, becoming the first Solana staking fund on the market. This gave it a first-mover advantage over the potential remaining Solana ETFs. The Commission had no choice but to green-light it as it falls under the Investment Company Act of 1940 and therefore, received automatic approval unless stopped by the SEC. As…
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