SEC Moves Forward with Solana and Litecoin ETF Filings
The US SEC has taken a significant step by accepting filings from the NYSE to list Grayscale’s Solana and Litecoin ETFs, which could mark a turning point for crypto asset regulation.
This decision , announced on February 6, opens a 21-day window for public feedback, and comes at a time when digital asset ETFs are increasingly gaining attention due to shifts in the regulatory landscape.
This move is especially notable for Solana , as it represents the first time the SEC has considered an ETF for the cryptocurrency, after rejecting similar attempts in the past. Analysts are suggesting that this could signal a more favorable approach from the SEC, particularly given Solana’s previous classification as a security.
With Gary Gensler no longer heading the SEC, many expect the new leadership to adopt a more crypto-friendly stance, reflected in the growing number of ETF filings. Experts are optimistic that decisions on these applications could be made by October 11.
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Germany’s Election Could Redefine Crypto RegulationsAlongside the Solana ETF filing, the SEC has also recognized a filing for Grayscale’s Litecoin ETF, the second such acknowledgment for the cryptocurrency. While regulatory approval remains distant, this development is seen as a promising sign for the future of Litecoin ETFs.
The broader context of this progress also includes the SEC’s acknowledgment of Nasdaq’s filing to allow in-kind transactions for the iShares Bitcoin Trust ETF, a move described as long overdue by industry observers. While these filings show progress, the final approval for crypto-based ETFs still hinges on future regulatory decisions, which could potentially be influenced by the SEC’s new leadership.
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