The US Securities and Trade Fee (SEC) has pushed again its choice on a number of cryptocurrency exchange-traded fund (ETF) proposals, delaying potential approvals for merchandise tied to XRP
In response to filings launched on March 11, the SEC has chosen to take further time to evaluate rule adjustments needed for these ETFs to proceed.
This implies functions, together with Grayscale’s XRP ETF and Cboe BZX Trade’s spot Solana ETF, will not see a verdict till at the very least Could 2025.
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James Seyffart, Bloomberg ETF knowledgeable, commented on the delay in a put up on X, saying the SEC’s choice was anticipated and a part of its common course of. He famous that suspending choices on crypto ETFs is routine and doesn’t sign rejection.
Seyffart additionally identified that Paul Atkins, the nominee to steer the SEC underneath President Donald Trump, has but to be confirmed, which might affect the company’s future strategy to ETF approvals.
Regardless of the delay, he remained optimistic, “This does not change our (comparatively excessive) odds of approval. Additionally notice that the ultimate deadlines aren’t till October for these”.
One other Bloomberg analyst, Eric Balchunas, weighed in, highlighting that the SEC’s postponement applies not simply to altcoin ETFs but additionally to different merchandise, akin to these involving Ethereum
In the meantime, the SEC was just lately reviewing a proposal that might classify crypto platforms as exchanges. What did Performing SEC Chair Mark Uyeda say about it? Learn the total story.
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