On October 8, the department must approve or reject the application for the launch of the Truth Social ETF tied to bitcoin and the ETF. On October 16, a decision on the applications of 21Shares and BitWise to launch the ETF, tied to SOLANA, and October 19, on the application of 21SHARES on the Core XRP Trust, designed to direct storage of XRP cryptocurrency, should be made public.
The regulator is not the first to delay with the decision on the ETF, tied to altcoin, including XRP, LTC and DOGE coins. Now these delays are taking place against the backdrop of a sharp increase in demand for cryptocurrency ETFs: the influx of capital in spot exchange funds for the air recently broke a new record. The ISHHARES BITCOIN TRUST Foundation from BlackRock retains its dominance in the market – under its control there are assets worth more than $ 87 billion.
At the moment, more than 100 cryptocurrency ETFs are trading on the exchanges, so digital assets are increasingly introduced into financial markets. Bitwise investment, Matt Hawgan, expects four large banks by the end of the year: Merrill Lynch, Morgan Stanley, Wells Fargo and UBS will allow their customers to trade in spotal ETFs for bitcoin.
Recently, GrayScale has submitted to the SEC an application for registration of a spotal ETF, tied to DOGE cryptocurrency. If the Grayscale Dogecoin Trust ETF fund will be approved by the regulator, it will bargain on the NYSE Arca exchange.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
