SEC asks entities to withdraw 19b-4 forms for ETF crypto applications
By Angel di Matteo @Shadowargel
The Sec asked ETF crypt emitters to withdraw their forms 19B-4, This after approveing standards that reduce regulatory obstacles, potentially accelerating approvals.
***
- Sec eliminates the need for forms 19B-4 For some ETF crypt.
- Issuers must only present S-1 For approval.
- Changes could accelerate ETF arrival of Sol, LTC, XRP and Doge to the market.
The United States Stock Exchange and Securities Commission (SEC) He updates his requests for evaluation of requests, so he asked the emitters of funds quoted in the bag (ETF) of cryptocurrencies that withdraw their forms 19B-4 After eliminating key obstacle in the regulatory process, which anticipates that the process could be expedited for the presentations under review.
Speeding up crypto applications
According to a report published by COINDESKthis measure could facilitate the way for faster approval for these cryptocurrency products. In this regard, a source with knowledge of the case, confirmed that the measure is framed in the efforts of the Sec for addressing applications related to products related to digital currencies.
Earlier this month, the Sec It approved generic listing standards that allow the bags to list products quoted in the stock market (ETP) based on raw materials, including those linked to cryptocurrencies, without requiring separate reviews for each one. This change significantly reduces regulatory obstacles to launch ETF crypt into cash.
Historically, the Issuers had to work with bags to present forms 19B-4 “Formal features to amend listing rules,” before an ETF could be listed. Under the updated frame, that step will no longer be necessary for certain products. From now on, only the presentation of the form will be required S-1, which details the structure and strategy of the ETF, to obtain the green light of the Sec.
The analyst of Bloomberg IntelligenceJames Seyffart, pointed to COINDESK that “The SEC can move absurdly fast if you really want it, as we have seen in the past”although he warned that “There is no guarantee” of immediate approvals. He added that the regulator has not yet authorized the conversion of the Bitw of Bitwise In an ETF, possibly due to its policy of prioritizing the first to submit applications, a frequent pattern in the industry.
Withdrawing obstacles to the process
In recent months, asset managers have presented a growing list of ETF proposals crypt in cash that cover coins such as Solana, Litecoin, XRP and Dogecoin. These requests included both forms 19B-4 as S-1, reflecting the process in two steps demanded under the previous rules.
Eliminate the need for forms 19B-4 It could substantially accelerate the approval. This procedure implied that bags like Nasdaq either NYSE ARCA They asked the regulator to change their listing standards every time a new product was introduced, a process that could take months.
With the updated position of the Sec, The bags may list ETF based on cryptocurrencies that enter the generic category of ETP of raw materials without having to request rules changes every time. This places the approval load directly on the form S-1, that remains under review of the organism.
Seyffart also commented that, with the political uncertainty and the risk of a possible closure of the US government, the panorama could become even more unpredictable. However, this change in the approximation of the Sec It could open the door for a broader range of digital asset funds to reach the market with less regulatory delays.
Together, these modifications indicate a change in the attitude of the regulator towards the crypto market, which could mark a turning point in the institutional adoption of these financial products. For investors, the immediate effect would be potentially faster access to ETF based on cryptocurrencies, which would increase liquidity and diversification in the sector.
Written article with the help of an AI content editor, edited by Angel Di Matteo / Diariobitcoin
Original image of Diariobitcoin, created with artificial intelligence, for free use, licensed under public domain.
WARNING: Diariobitcoin offers informative and educational content on various topics, including cryptocurrencies, AI, technology and regulations. We do not provide financial advice. Cryptactive investments are high risk and may not be adequate for all. Investigate, consult an expert and verify the applicable legislation before investing. I could lose all its capital.
Subscribe to our newsletter
