In short
- The SEC will decide on 8 October about the Truth Social Bitcoin and Ethereum ETF, probably after a request for rules of two stock exchanges that can shorten the approval processes.
- The Agency delayed decisions about XRP funds from Grijstraat, Bitwise, Coinshares, Canary Capital and 21Shares.
- It also pushed deadlines back on individual Dogecoin and Litecoin ETFs, and a proposal to add a statement to an existing place ETF.
The US Securities and Exchange Commission has delayed its decisions on a Fund of Donald Trump’s media and technology company traded by the exhibition to follow the performance of Bitcoin and Ethereum and seven other ETFs based on some digital assets.
In a submission Monday, the regulator said that he went back his deadline for 45 days to weigh the Truth Social Bitcoin and Ethereum ETF until 8 October.
The identical delays announced for applications submitted for Spot XRP funds by Grayscale, Coinshares, Canary Capital, Bitwise and 21Shares, a Spot Dogecoin ETF from Grayscale, and a Spot Litecoin Product from Die Fondssen.
It also stopped solving a request to add a statement to the 21Shares Coreeum ETF, which follows the price of the second largest cryptocurrency through market value.
The delays come four days after the agency has delayed decisions about Solana ETFs from Bitwise, 21Shares and Vaneck, and a Dogecoin Fund of 21Shares.
The SEC weighs a wave of proposals that cryptocurrencies follow. These entries are the result of the dramatic success of 11 spot Bitcoin and nine Ethereum ETFs, a more favorable political environment for cryptocurrencies that were ushered in by the Trump government and growing interest by traditional financial giants that were previously resistant to the active.
The archives also follow about three weeks after two large American exchanges asked the SEC to properly inspect changes that could considerably shorten the approval process for future funds traded through crypto exchange, whereby certain products are automatically stated without the needs of files.
In separate archives, CBOE BZX and NYSE Arca have asked for changes to their listing standards that would make it possible for certain crypto-etf’s to be stated without the rigorous evaluation of the SEC under rule 19b-4, a process required to submit proposed rule changes. Under the current guidelines, such assessments of proposed changes in funds can last 240 days.
Bloomberg Senior ETF analyst Eric Balchunas told Decrypt That the files of the Sec Monday were ‘nothing important’ and were probably timed to follow a likely sec green light from CBOE and NYSE’s changes next month after the conclusion of a commentary period.
“Although it feels like” Is this sec not supposed to approve all these things? “, Are the list standards for comment,” said Balchunas. “So in the nick of time, these listing standards must be approved. And then we anticipate a number of approvals based on the list standard that starts in October.”
“So this delay feels discouraging, but it’s just a little more patience,” he added. “It will all happen soon.”
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