SEC Punts on XRP, Dogecoin ETF Decisions
The U.S. Securities and Exchange Commission (SEC) has postponed decisions on rule changes for exchange-traded funds (ETFs) proposed by 21Shares tracking XRP and Grayscale based on Dogecoin. The SEC aims to conduct further analysis to ensure compliance with securities exchange rules designed to prevent fraud and protect investors. Cboe and NYSE submitted requests for these rule changes earlier this year. The delays do not indicate the SEC's stance on approval. Additional delays were also announced for proposals from 21Shares, Bitwise, VanEck, and Canary Capital for ETFs tracking Solana. These proposals follow the recent interest in spot Bitcoin ETFs, which have seen significant success, accumulating over $126 billion in assets. 21Shares filed to launch an XRP ETF, while Grayscale plans to convert its Dogecoin Trust into an ETF. Other asset managers are seeking to introduce crypto ETFs for various digital assets.
