The Bag and Securities Commission (SEC) delayed decisions on three funds quoted in the stock market (ETF) of the cryptographic exchange on September 10.
The decisions postponed Blackrock’s Ethereum proposal along with the Spot XRP and Solana ETF applications by Franklin Templeton. Delays occur when the SEC develops a generic listing frame that could optimize future approvals of ETF cryptography.
The postponements position these requests for their potential approval during an anticipated decision window in October batches, aligning with previous predictions.
Bloomberg ETF analyst James Seyffart said in April that cryptographic ETFs would probably obtain a batch of approval in October, when some of the more than 90 presentations reach their final deadlines.
Generic frame
The SEC has been working with the US exchanges. In a standardized list of ETF based on token that would eliminate requests to change individual rules for qualified assets.
The initiative would allow ETF sponsors to omit the usual form 19B-4 process when the underlying tokens comply with the default criteria.
According to the proposed framework, the sponsors would send registration statements in form S-1, would observe the standard period of 75 days and the products on the list once the waiting periods have ended.
Market capitalization, the volume of exchange negotiation and daily liquidity represents key metrics under discussion for rating thresholds. The current rules change route requires that each spot cryptographic ETF ensures a commission order before the list, a process designed for novel or complex products.
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Going to the standing rules for qualified assets would shorten the deadlines and reduce the iterative comments cycles between the agency and the applicants.
JUMPTart approval
Eric Balchunas said on September 9 that “Era of Memecoin ETF [is] About to start ”with an ETF Dogecoin scheduled for the launch on September 11 under the structure of 40 ACT.
Balchunas said that this could become “the first US ETF. In sustaining something that has no utility on purpose,” considering that Dogecoin was originally created as a tribute to Meme Dux.
A successful Dogecoin ETF launch could catalyze an impulse of broader approval for pending applications.
Seyffart previously shared that there are 92 Crypto ETF applications divided into several assets, including Solana, XRP, Litecoin, and rethinking versions of existing products that expect DEC decisions.
The complete presentation list reveals requests from the main issuers, including Vaneck, Grayscale, Canary, Bitwise and Franklin Templeton, which cover assets ranging from cryptocurrencies established to emerging tokens.
