BlockBeats News, April 20th, according to on-chain analyst ai_9684xtpa, currently, there have been 9 types of Altcoins and 4 types of Meme tokens submitting spot ETF applications. The Altcoins are SOL / XRP / LTC / ADA / AVAX / APT / SUI / MOVE / TRX, and the Meme tokens are DOGE / TRUMP / BONK / PENGU. The most popular spot ETF applications are for SOL and XRP, with 6 and 10 institutions applying, respectively. The most recently submitted application was for TRX spot ETF by Canary Capital on April 19th.

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 "American coins," with teams having abundant American resources or originally being teams related to American projects, while the remaining AVAX / APT / MOVE / TRX belong to the WLFI investment portfolio.

A spot ETF application needs to be submitted by the exchange representative issuer through a 19b-4 filing, not directly by the issuer. The subsequent S-1 filing is estimated to cost about $100,000 for drafting. Theoretically, the U.S. spot ETF application process can take up to 240 days, but if the SEC requests multiple revisions or supplemental materials, the final timeline may be extended. The process includes: submission of the 19b-4 filing; SEC review period (up to 240 days); approval of the S-1 registration statement; and final listing for trading.