The US Securities and Stock Exchange Commission (SEC) officially accepted ETF applications for Grayscale for 2 Altcoin. Now the public will be able to express opinions about these applications. This development aroused a great impact in the crypto market.
Historical Step for Popular Altcoin Solana ETF!
The SEC officially recognized the 19B-4 applications presented by the New York Stock Exchange (NYSE). This development drew attention with the fact that the SEC came to this point for the first time in terms of an ETF application for Solana. This can lead to more adoption by Solana by corporate investors.
Bloomberg ETF analyst James Seyffart said SEC did not accept the solea ETF applications before. This change can have a positive effect on the market. It may also indicate that there may be a change in the attitude of SEC in his cases that classify Solana as securities. If this application process results in a positive result, a significant increase in the solea price may be seen.
Litecoin ETF is also in the approval process!
SEC also accepted Grayscale’s application for Litecoin ETF. This shows that the second ETF process has begun for Litecoin. Analysts think that Litecoin is one of the most powerful candidates for Spot ETF approval. Litecoin is expected to be approved in spot markets after Bitcoin and Ethereum ETFs.
Seyffart said Litecoin is the most likely crypto asset that can receive Spot ETF approval after Bitcoin and Ethereum. If this process is accelerated, there may be great mobility in the Litecoin market. Market observers closely follow the SEC’s approach to these applications. In particular, the interest of corporate investors may increase the demand for Litecoin.
Can the new SEC management give green light to Altcoin ETFs?
SEC’s attitude towards ETF applications may change with the new management. In particular, the separation of Gary Gensler increased the expectation of more crypto -friendly arrangements. Experts in the crypto industry suggest that SEC can now take a more moderate stance.
Analysts think that the approval process of Solana and Litecoin ETFs may accelerate. However, it may be necessary to wait until October to get a definite result. Investors should carefully follow the decisions of the SEC in this process. If Solana and Litecoin ETFs receive approval, a new wave of rise may begin in the crypto market. Investors should focus on the developments in the ETF process and closely monitor the mobility in the market.
