SEC delays decision on Ether staking and XRP ETFs, as analysts expected
The US Securities and Exchange Commission (SEC) has postponed its decisions on Bitwise’s application to add staking to its Ether ETF and Grayscale’s XRP ETF bid, extending the decision period by 45 days. The SEC aims to gather public comments and conduct further analysis on these proposals. Analyst James Seyffart noted that such delays are typical for the SEC, which usually takes the full time allowed for 19b-4 filings. Other crypto ETF applications, including those for Litecoin, are also expected to face delays, with potential approvals not anticipated until late June or early July at the earliest. The SEC is set to decide on Grayscale’s Polkadot ETF by June 11 and 21Shares’ Polkadot ETF by June 24. The SEC has received numerous altcoin ETF filings following Donald Trump’s election and the resignation of former Chair Gary Gensler, whose tenure was marked by strict regulatory actions against crypto. The current SEC is viewed as more crypto-friendly, with several legal cases dismissed post-Gensler.
