A new SEC rule around altcoin ETFs may have an impact on the upcoming ETFs of cryptocurrencies such as Litecoin (CRYPTO: LTC), XRP (CRYPTO: XRP), Solana (CRYPTO: SOL), Cardano (CRYPTO: ADA), and Dogecoin (CRYPTO: DOGE).
What Happened: CryptoAmerica journalist Eleanor Terrett reported on Monday that the SEC had asked altcoin ETF applicants to withdraw their 19b-4 filings.
The reason: the newly approved generic listing standards make those filings unnecessary.
Instead, issuers now only need to submit S-1 filings, which the SEC can approve at any time as long as the products meet existing criteria.
Terrett emphasized this is not a setback but rather a streamlined path for crypto ETFs.
Bloomberg ETF analyst Eric Balchunas noted that spot crypto ETF deadlines were just around the corner, with Litecoin's set for Oct. 2 and Solana's for Oct. 10.
ETF Store president Nate Geraci cautioned that the SEC can now approve, or delay, any of them at its discretion.
Also Read: Bitcoin Underperforms Ethereum By 60% In Q3: Which Coin Will Perform Better In Q4?
What's Next: Analyyst Ted Pillows highlighted that while spot ETFs for SOL, XRP, DOGE, and LTC face deadline in October there are two possible scenarios:
- A sharp rally into approval, followed by a full retrace.
- A retracement first to clear excess leverage, then a more sustainable rally.
He suggested the second scenario looks more probable—and ultimately healthier for the market.
Read Next:
Image: Shutterstock
