As is known, the US Securities and Exchange Commission (SEC) made a significant move yesterday paving the way for altcoin ETFs, requesting spot ETF issuers for Litecoin (LTC), Ripple (XRP), Solana (SOL), Cardano (ADA), and Dogecoin (DOGE) to withdraw their existing 19b-4 filings. With this request, the SEC announced that the traditional ETF approval process is no longer valid under comprehensive listing standards for cryptocurrencies. Accordingly, while the SEC only has S-1 applications to review, analysts state that this is also a formality and ETF approvals for altcoins are very close. Following this development, Bloomberg ETF analyst Eric Balchunas said that the probability of spot crypto ETFs being approved is now 100 percent. Balchunas noted that the recently approved new general listing standards render 19b-4 filings and review periods meaningless, with only S-1 filings remaining pending official approval from the SEC. Balchunas stated that this approval was merely a formality, noting that 21Shares had submitted a corrected S-1 application for the Solana ETF. At this point, the analyst claimed that the SOL ETF approval is certain and could come at any time. “Frankly, the odds are now 100%. General listing standards make 19b-4s and the duration meaningless. This means S-1s are awaiting official approval. And the fourth amendment for Solana has just been submitted. Approval for the SOL ETF could come at any time. Be prepared. Investors Prepare for Solana ETF! While Solana ETF approval is considered certain, analysts said investors are preparing for the ETF approval. Accordingly, analysts stated that retail and institutional investors viewed the price declines ahead of the SEC's October 10 SOL ETF decision as a buying opportunity and purchased SOL. It was noted that Cumulative Volume Delta (CVD) indicators, which reflect retail and institutional buying trends on Binance and Coinbase, show that both groups have been accumulating during recent price declines. *This is not investment advice. Continue Reading: Bloomberg Analyst Speaks Out After SEC's Latest Move: ETF Approval Is Now 100%, Especially For This Altcoin!
