Bitcoin

Daily

The post <a href="https://coinpedia.org/price-analysis/top-3-altcoins-poised-for-significant-growth-following-etf-approval/" rel="noopener noreferrer nofollow">Top 3 Altcoins Poised for Significant Growth Following ETF Approval</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
The U.S. Securities and Exchange Commission (SEC) issued an investor alert regarding crypto assets, hinting at increased scrutiny on securities in the cryptocurrency market. This move mirrors the SEC’s approach leading up to the approval of Bitcoin Futures, suggesting that approval for a spot Bitcoin Exchange-Traded Fund (ETF) is now imminent.
Amidst the race among various companies to launch the first ETF, BlackRock’s recent update to its application has drawn attention. The SEC has requested BlackRock to include specific language in its ETF filing, stressing the distinction between digital assets deemed securities and those that are not. This move is seen as the SEC covering its bases for future ETF applications involving altcoins.
<a href="https://www.youtube.com/watch?v=jJRcKm4zX2k" rel="noopener noreferrer nofollow">According to Altcoin Daily, </a>this development leads to speculation that altcoins, even those currently not deemed securities, may face heightened financial auditing and scrutiny when applying for ETFs. Businesses seeking approval for ETFs with alternative cryptocurrencies could potentially face challenges proving their non-security status to the SEC.
Despite the uncertainty, Altcoin Daily identifies three altcoins that seem to align well with the SEC’s criteria. The first is XRP, which recently gained clarity after the SEC dropped its lawsuit against Ripple. This marked a significant victory for the XRP community, as the SEC’s baseless allegations were dismissed.
The second altcoin is Polkadot, which, according to Altcoin Daily, successfully handled SEC’s scrutiny about a year ago. Polkadot’s proactive approach involved working closely with the SEC to transition its token from a security to a software status.
The third altcoin is Chainlink, which recently announced a partnership with Swift, a major interbank payment processor. Although not yet cleared by the SEC, Chainlink’s collaboration with Swift indicates a positive growth, given Swift’s influential position and regulatory relationships.
As the industry awaits the approval of a Bitcoin ETF, altcoins with regulatory clarity, such as XRP, Polkadot, and Chainlink, may have an edge.&nbsp;

Top 3 Altcoins Poised for Significant Growth Following ETF Approval

CoinPedia News

Other articles published on Dec 11, 2023

Ethereum Under Pressure: Why Are Some Transactions Censored There?

Venus Promises Fund Replacement After Binance Oracle Incident

OpenAI’s Sam Altman Admits Being Wrong About Anti-Semitism in America

Saudi Aramco Steps into Crypto World through Partnership with SBI Holdings

Will Bitcoin Price Surge if Fed Cuts Rates Amid ETF Approvals?

US Makes Moves to Curb Crypto Money Laundering: A Comprehensive Look

Join our free newsletter for daily crypto updates!