#SEC
Altcoin Season? SEC Temporarily Suspends SolanaETF LitecoinETF
The US Securities and Exchange Commission (SEC) has temporarily delayed the approval of major altcoin ETFs, Solana and Litecoin ETF. This decision has been postponed for the reason that it is necessary to further evaluate whether it meets the standards of investor protection and market transparency.
For Grayscale Solana Trust, the SEC said it is still reviewing whether the capital meets financial regulations. If approved, this capital would own Solana (SOL) and trade on the NYSE Arca stock exchange.
Similar decisions have been postponed for Grayscale Litecoin Trust, and it is said that it is necessary to check whether it is in compliance with financial regulations.
Not only is the SEC delaying Altcoin ETFs, it's also seeking public input on changes to the structure of BlackRock's iShares Bitcoin Trust. In particular, it is proposed to change from a cash-only redemption system to an "in-kind" redemption system in which real Bitcoin can be redeemed. This change could have a significant impact on the capital management and hedging strategies within the ETF.
Based on 21Shares Nasdaq Rule 5711(d) CF Benchmarks Index, Dogecoin ETF has applied to Nasdaq for registration. This feature will make it easier for investors to buy Dogecoin through a legitimate channel.
All of this activity is happening under the leadership of new SEC Chairman Paul Atkins. Atkins has made it a policy to review the process of registering crypto products and emphasize public participation.
While the delayed decision on Altcoin ETFs may hurt investor confidence and delay the arrival of "Altcoin Season," the SEC's open-minded approach to public opinion can create a good legal foundation for the crypto industry to grow in the long run.