According to a prospective crypto ETP issuer, the recent departures have presented challenges in obtaining clear feedback from LSE on technical matters related to their applications.
Xangle, a Seoul-based crypto data provider, argues that the Korean regulations stop efforts to restore the Korean stock market and address the “Korea Discount”, in which Korean stocks trade at lower valuations than their global peers.
The Solana (SOL) network is a thriving Web3 ecosystem, with nearly $5B in TVL, bolstered by institutional investors and retail traders.
ETF analyst James Seyffart noted that while the 19b-4 filings have been approved, the funds still need to pass another scrutiny stage for the S-1 documents to be reviewed.
Soon after the 19b-4 approval by the US SEC, VanEck Investments swung into action by releasing a 37-second advertisement swaying viewers to “Enter the ether”.
A total of $13.43 billion has flowed into spot BTC ETFs since the approval of the digital assets in January, but the current capital flowing into the investment products remains significantly low compared to their peaks in March.
Sigel stated that the first-come-first-serve approach by the SEC would help the issuers plan their product launches in a much better way.
Despite the SEC’s engagement with issuers, industry experts warn that the process isn’t finished yet. “Basically, it’s just starting,” said a high-ranking member at an ETF issuer, referring to the S-1 discussions.
Despite being first in the market, Hong Kong’s Ethereum ETFs fail to gain enough traction with daily trading volumes dropping to their lowest.
The anticipation of spot Ether ETF approvals has had a profound impact on the Ethereum market value.
The company’s market capitalization nearly hit the $1 billion milestone thanks to thos dramatic surge. Currently, Metaplanet is valued at around 14.8 billion Japanese yen worth approximately $940 million.
Solana’s potential ETF approval could skyrocket its market presence, leveraging its high-speed, low-cost transactions for mainstream adoption.
While some are clamouring to have a SOL spot ETF, others such as Bitwise Investment CEO Hunter Horsley see no reason for it.
Bitcoin ETFs in Hong Kong have also shown strong performance.
The rally in Bitcoin price and spot Bitcoin ETF inflows comes as the US SEC decision date for spot Ethereum ETFs inch closer.