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A slew of cryptocurrency exchange-traded funds may be set to launch any day now, according to Bloomberg Intelligence Senior ETF Analyst Eric Balchunas.
Balchunas said Monday on X that the approval of pending ETF applications tied to assets such as Cardano, Litecoin, Solana, and XRP was now "100%" guaranteed following the Securities and Exchange Commission's launch of generic listing standards for cryptocurrency-based ETFs.
Balchunas’ remarks came after the SEC requested that issuers withdraw 19b-4 filings related to their ETF applications.
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The 19b-4 is a filing submitted by exchanges, such as the Nasdaq and NYSE, on behalf of issuers outlining a rule change required to list a new ETF. The filing has typically been required for spot cryptocurrency ETF approvals, but it also came with a statutory approval window of 240 days.
According to Balchunas, 19b-4 filings and the “clock” that came with them are no longer necessary for spot cryptocurrency ETF applications thanks to the new generic listing standards. Now only S-1 registration filings are required, he said. S-1 filings submitted by issuers do not come with such deadlines.
“The baby could come any day,” Balchunas said. “Be ready.”
Before the recent shift in the cryptocurrency ETF applications process, the deadline for an SEC decision on ETF applications tied to Litecoin, Solana, and XRP was already concentrated in October.
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Of all the pending spot cryptocurrency ETF applications, Balchunas suggested on Monday that Solana-linked products may be the first to be approved. He highlighted that registration statements linked to the products have already undergone four amendments, which typically signals high SEC engagement and progress.
Bitwise investment chief Matt Hougan said last month that the launch of Solana ETFs would usher in “Solana season.” He cited a convergence of inflows into the products and demand from digital asset treasury companies that are stacking the asset. He said the combination was what sparked Bitcoin’s run from $40,000 in January 2024 to a record of nearly $125,000. He also said it is what has caused Ethereum to rally since April.
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