The American Commission for Securities and Exchange has delayed its decision on Bitwa’s request to add to the Ether Exchange and Grayscale XRP ETF fund to be put to the Fund, which analysts expected.
Sec he said On May 20, that he had to extend the decision regarding BitWise’s application by 45 days to “consider the proposed change in the principle and issues raised in it.” The agency had to decide or dig a decision until May 22.
The agency also delayed Deciding O XRP (XRP) tracking ETF and BitWise’s Solana (SOL) Tracking Fund, while he is looking for public comments and begins “proceedings enabling additional analysis” of proposals to ensure that they meet regulatory standards.
ETF analyst Bloomberg James Seyffart he said on X that both delays were expected Because SEC “usually takes full time to respond to the 19b-4” report.
“Almost all these applications have the final terms in October”, and the early decision would be “outside the norm”, added Seyffart.
“No matter how cryptographic this second is a conspiracy,” he said.
Seyffart said that delays are also expected in other Kryptographic ETF offers, and SEC will probably delay the deciding on ETF Litecoin (LTC).
But he in addition“Litecoin is one that is more likely to be approved first.”
“A few XRP ETP has dates in [the] next few days. If we saw the early approval of SEC on any of these assets, I would not expect them to see them until the end of June or early July in the earliest. It is more likely that it will be at the beginning of 4Q, “said Seyffart.
SEC for flooding of ETF applications
Several other cryptographic ETF applications are approaching SEC in June. SEC is to decide on ETF in Polkadot (Dot) to ETF to ETF Polkadot from June 11 and 21 SShares on June 24 According to to report SEC.
Related: SEC fees for the Unicoin cryptographic platform for alleged $ 100 million fraud
Sec received a number of ETF Altcoin applications after the election of Donald Trump in November and the next resignation of former chairman Sec Gary Gensler.
The industry was Gensler’s time in SEC as an era marked by an aggressive regulatory position against cryptocurrencies, with 100 regulatory activities related to cryptographic during his term from 2021 to his resignation on January 20.
With the departure of Genlser, SEC is perceived as much more cryptocurrency cordial, and several companies are in the face of legal activities from the regulations that have been rejected, including Crypto Exchange Gemini on February 26 and Crypto Cumberland Drw Trade Firma on March 26.
Warehouse: Referring Sec at cryptography leaves key questions unanswered
