The US Securities and Exchange Commission has delayed its decision on the Bitwise application to add staking to the funds exchanged by this ether and the Grirenscale’s XRP ETF BID, which analysts expect.
The Sec Says On May 20, it will need to expand its decision on the Bitwise application by 45 days to “consider the proposed rule change and the issues that have been raised there.” The agency is required to decide or punch its decision on May 22.
The agency is also delayed Deciding In Grayscale’s XRP (XRP) Tracking ETF and Bitwise’s Solana (Sol) Fund monitoring as it seeks public comments and begins “proceedings to allow further analysis” of proposals to ensure they meet regulatory standards.
Bloomberg ETF Analyst James Seyffart Says In X that both delays are expected as sec “usually takes full time to respond to a 19b-4 filing.”
“Almost all of these files have a final due date in October,” and an early decision is “out of the standard,” Seyffart added.
“It doesn’t matter how big this crypto-friendly is. There is no conspiracy here,” he said.
Seyffart said delays in other Crypto ETF bids are also expected, and the SEC is likely to delay Litecoin decision (LTC) Etfs din.
However, he added“Litecoin is one with a higher probability compared to others to be approved first.”
“A bunch of XRP ETP has dates in (the) next few days. If we see early approval from the SEC in any of these possessions, I don’t expect to see them until late June or early July at the very beginning. More likely to be in the early 4Q,” Seyffart added.
The flood deal of ETF filings
Many other Crypto ETF applications approach the SEC deadlines in June. The SEC should decide on polkadot of grayscale (Dot) Monitoring ETF by June 11 and 21shares’ Polkadot ETF on June 24, According to In a sec.
Related: SEC charges the Unicoin Crypto platform with alleged $ 100 million fraud
The SEC has received a Raft of filings of altcoin etf At the end of Donald Trump’s election in November and the following resignation to the former Sec chair gary gensler.
The industry saw Gensler’s time on the SEC as a period of time marked by a aggressive bearing regulation toward crypto.
With Genlser’s departure, the SEC noticed that more than just a friendly crypto, with some companies faced with legal action from the regulator that released their cases, including Crypto Exchange Gemini In Feb. 26 and crypto trading firm Cumberland DRW on March 4.
Magazine: SEC U-Turn to Crypto leaves key questions that are not answered
