The US Securities and Exchange Commission delayed the decision to add staying to the ether exchange trading fund and the Graycale XRP ETF BID.
The SEC said on May 20 that the decision of Bitwise’s application should be extended for 45 days for 45 days to “considering the proposed rules change and its problems”. The agency had to decide or punch by May 22.
The institution also began the “procedure for allowing further analysis” to meet the regulatory standards while looking for public opinion while finding public opinions while determining the Grayscale’s XRP (XRP) tracking ETF and Bitwise’s Solana (SOL) Tracking Fund.
James Seyffart, an analyst at Bloomberg ETF, said, “In general, the two delays are expected because full time is needed to respond to 19B-4 submission.
“Almost all submissions have the final deadline in October, and the initial decision will be” the standard will be out of the standard, “Seyffart added.
“No matter how friendly this SEC is, there’s no conspiracy here,” he said.
Seyffart also said that other spot encryption ETF bidding is expected, and the SEC is expected to delay the decision of Litecoin (LTC) ETF.
But he added, “Litecoin is likely to be approved first.”
“The XRP ETP has a date in the next few days. If we will see the SEC’s early approval for these assets, we will never expect to see this initial by the end of June or early July,” Seyffart said.
SEC dealing with the flood of ETF report
In June, other Crypto ETF applications are approaching the SEC deadline. According to the SEC submission, the SEC must determine the GrayScale polkadot (DOT) tracking ETF to 21Shares polkadot ETF on June 11.
relevant: The SEC charges the UNito, an UNito, a $ 100 million fraud.
The SEC was resigned by Altcoin ETF for Donald Trump’s election in November and the following resignation of Gary Gensler, former SEC president.
The industry has received 100 encryption -related regulations from 2021 to January 20, which is marked with the Gensler’s time in the SEC as an aggressive regulatory attitude toward encryption.
The SEC departed by Genlser is recognized as a legal measure of the regulatory agency by several companies facing legal actions of regulators, including CUMBERLAND DRW, a cryptocurrency company on February 26.
magazine: The U -turn of the SEC for encryption does not answer major questions.