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SEC plans turbo for altcoin ETFs: Solana and Avalanche in view!
The SEC plans to speed up approval of altcoin ETFs like Solana and Avalanche, creating new investment opportunities.
SEC plans turbo for altcoin ETFs: Solana and Avalanche in view!
The US Securities and Exchange Commission (SEC) may consider a faster approach to approving new crypto investment products. A recent report from Newsbit According to reports, the SEC is considering waiving a required level of approval. This would potentially accelerate the launch of ETFs for altcoins such as Solana and Avalanche. The approval process for crypto ETFs is currently complex and requires the submission of an S1 registration form as well as a 19b4 form.
Form 19b4 officially requests permission from the SEC to adjust the rules for trading. Loud BeInCrypto The SEC traditionally idolizes the approval of ETFs to evaluate each application individually. The new, generic listing standard could now allow providers to only have to submit an S1 form if an altcoin meets certain criteria.
Changes in the approval process
A permit could be granted in as little as 75 days. These changes would significantly speed up the approval process and provide more predictability for providers. However, little will change in the short term for ETF applications that have already been submitted and contain a 19b4 form. Still, the news is encouraging for new providers and tokens that have not yet applied.
A successful ETF launch could also encourage competitors to offer similar products within a few months. The SEC appears to recognize the relevance of the crypto market, which could lead to more standardization and fewer political delays. These developments could also expand access for investors and create more transparency.
Impact on the market
In the long term, this could unlock additional capital from the institutional space for Bitcoin and other major currencies. There are currently over 70 pending altcoin ETF applications, and the SEC has begun actively engaging with these applications under new leadership. These new frameworks could increase the SEC's responsiveness and enable faster approval for multiple altcoin ETFs.
There is currently only one ETF application for Avalanche (AVAX), meaning other issuers could quickly file their own AVAX ETFs. Overall, the SEC's potential new approach could usher in a new phase of crypto investing in the US.