SEC accelerates approval: Solana and XRP ETFs will come soon!

SEC accelerates approval: Solana and XRP ETFs will come soon!

With an accelerated approval of ETFs for old coins such as Solana and XRP, the US stock exchange inspectorate SEC has set new impulses for the cryptoma market. This reports Crypto News. The SEC has shortened the approval periods from originally 270 days to just 75 days, which represents a significant relief for companies that want to enter the rapidly developing market for cryptocurrency ETFs.

Financial companies such as Canary Capital and Vaneck are currently employed by updating their applications for the first Altcoin ETFs. Steven McClurg, the founder of Canary Capital Group, recently indicated that there are currently about a dozen ongoing applications. The latest versions of these applications could be submitted this week, which indicates an accelerated development.

New regulations of the SEC

A few days before the new regulations were published, the SEC had already made its decision to shorten the deadlines. In order to come into question for the accelerated approval process, ETFs must meet certain criteria. This includes, among other things, that the underlying asset has to be traded on a regulated market for at least six months. Kyle Dacruz from Vaneck noted that not all existing applications meet these requirements.

These new developments could have far -reaching consequences for the cryptom market. Experts see a step here that could increase the awareness and acceptance of old coins in the broad investor base. With the quick approval, many other companies could take the step and make their own applications.

Interest in Altcoin ETFs not only seem to move the companies mentioned, but also many other market participants. The upcoming upcoming market entry of Solana and XRP offers the industry additional opportunities to further diversify and attract new investors.