The United States SECURITIES AND EXCHANGE (SEC) Commission officially recognized the 19B-4 documents submitted by the New York Stock Exchange (NYSE) to list and exchange the Solana and Litecoin Fund on the Stock Exchange (ETF).
On February 6, the regulatory organization called for public comments on the two deposits. The comments must be submitted within 21 days of their publication in the Federal Register.
First recognition of the dry for the Solana ETF
The recognition of the dry marks a first for the Solana (soil) ETF, which makes it significant development.
“This is actually worthy of interest because the SEC had refused to do so during recent attempts to deposit for soil,” wrote Bloomberg Etf James Seyffart analyst.
He also suggested that this decision could indicate a positive change for exchanges or companies faced with legal proceedings that qualify Solana as a guarantee. The journalist of Fox Business Eleanor Terrett echoed this feeling, calling the move of “very remarkable”.
“The same dry asked the CBOE to withdraw the documents from the Solana transmitters just a few weeks ago when peopleler was still at the helm,” said Terrett.
Bloomberg FNB’s main analyst Eric Balchunas also accepted. He stressed the importance of the dry recognition of a product linked to a digital asset previously labeled “security”.
“So we are now in a new territory, but just a baby step, but apparently the direct result of the change of leadership,” said Balchunas.
The SEC’s decision comes after the Chicago Board Options Exchange (CBOE) has turned into the 19B-4 applications for ETF Solana on behalf of Bitwise, Vaneck, 21shares and Canary Capital.
Meanwhile, Gary Gensler’s departure sparked an increase in the depots of ETFs. Indeed, many anticipate a more favorable position towards products related to cryptography.
Seyffart considered that the final deadline for a decision on the Solana ETF application would probably be around October 11.
Grayscale Litecoin Etf obtains an initial head sign
In addition to the FNB of Solana, the SEC recognized file 19B-4 of the NYSE to register and exchange the actions of the Grayscale Litecoin Trust. This marks the second recognition of an ETF Litecoin (LTC).
According to Seyffart, Spot Litecoin ETF could be the following to obtain regulatory approval.
“Keep my call / view that Litecoin will be the next digital asset to be approved by the dry for an ETF spot packaging,” said Seyffart.
Meanwhile, the same day, the SEC recognized the 19B-4 deposit of the Nasdaq Nasdaq to allow creations and redemptions in kind on the Ishares Bitcoin Trust Etf (Ibit). Nate Geraci, president of the ETF store, noted that even if it was a step forward, he had been expected for a long time.
“Ridiculous, we always make creations and buyouts,” said Geraci.
Recognition of the dry of the Depuits de trust Solana Etf and Litecoin in gray levels is a positive step. However, regulatory approval is still far away. It remains to be seen if the new dry under President Trump would accelerate the approval of the Altcoin FNB.
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