On April 20th, according to blockchain analyst ai_9684xtpa, 9 altcoins and 4 Meme tokens have submitted spot ETF applications. The altcoins are SOL/XRP/LTC/ADA/AVAX/APT/SUI/MOVE/TRX, and the Meme tokens are DOGE/TRUMP/BONK/PENGU. Please refer to the statistical table for the application time and initiator. The most popular spot ETF applications are SOL and XRP, with 6 and 10 institutions applying respectively. The most recent application submitted was the TRX spot ETF application submitted by Canary Capital on April 19th.
The spot ETF application requires the exchange to submit the 19b-4 document on behalf of the issuer, rather than directly submitting it by the issuer. The subsequent S-1 document will require approximately $100000 for drafting. In theory, the application process for US spot ETFs can take up to 240 days, but if the SEC repeatedly requests modifications or supplementary materials, the final time may be extended. The process includes: submitting 19b-4 documents; SEC review period (up to 240 days); Approval of S-1 registration statement; Finally listed for trading.
The BTC spot ETF was first applied for by BlackRock in June 2023 and was officially approved on January 10, 2024. The ETH spot ETF was first applied for by VanEck in September 2023 and was officially approved on May 23, 2024. Among the altcoins that have submitted spot ETF applications, SOL/XRP/LTC/ADA/SUI are all so-called "US dollars", and the team has rich US resources or is originally a US native team, while the remaining AVAX/APT/MOVE/TRX belong to WLFI's investment portfolio.
