SEC Tells Issuers to Withdraw 19b-4 Filings for Certain Crypto Spot ETFs
The U.S. SEC’s new generic listing standards have prompted issuers of several crypto ETFs to withdraw their 19b-4 filings, streamlining the listing process for these assets.
ETH
SOL
XRP
Summary
The U.S. SEC has directed issuers to withdraw their 19b-4 filings for ETFs based on Solana, XRP, Cardano, Litecoin, Dogecoin, Polkadot, Hedera, and Ethereum staking, following the approval of new generic listing standards. The change simplifies ETF approval, allowing these assets to be listed through an expedited S-1 filing process. Withdrawals are expected to begin as early as this week.
Terms & Concepts
- 19b-4 Filing: A submission to the U.S. SEC by exchanges to propose rule changes, often required for listing new types of securities, including certain ETFs.
- Generic Listing Standards: Predefined exchange rules that allow certain securities, such as eligible ETFs, to be listed without separate regulatory approval processes.
- Spot ETF: An exchange-traded fund that directly holds the underlying asset, such as a cryptocurrency, rather than derivatives based on it.