"Month of showdown for crypto asset ETFs"…SEC to decide whether to approve 16 cases next month

The U.S. Securities and Exchange Commission (SEC) is expected to make final decisions on a total of 16 crypto asset (cryptocurrency) exchange-traded funds (ETFs) within October. The review targets include major altcoins such as Solana (SOL), XRP (XRP), Litecoin (LTC), and Dogecoin (DOGE), and the deadline for each product continues throughout this month.

On the 29th (local time), James Seyffart, a Bloomberg ETF analyst, said that a final decision on Canary's Litecoin ETF is scheduled for October 2 (local time). After that, Grayscale's conversion of Solana and Litecoin trusts (October 10) and WisdomTree's XRP ETF (October 24) will be reviewed in turn. The SEC may approve or reject them at any time before the final deadline.

Nate Geraci, president of NovaDius Wealth Management, said, "The coming weeks are a very important time for spot crypto asset ETFs," adding, "Following Litecoin, decisions on Solana, Dogecoin, Ripple, Cardano (ADA), and Hedera (HBAR) ETFs are lined up."

However, some in the market point out the absence of major asset managers. Crypto Dan, a crypto asset analyst, said, "This review does not include key players such as Fidelity or BlackRock," taking a somewhat cautious stance.

Meanwhile, the SEC recently approved general ETF review standards. Seyffart said, "It could be a turning point that could lead to a wave of spot crypto asset exchange-traded products (ETP) launches."