The SEC delays its decision on cryptocurrency trust fund proposals

According to BlockBeats, the U.S. Securities and Exchange Commission (SEC) has postponed its decision on proposals submitted by 21Shares and Grayscale for the XRP trust fund and Grayscale's Dogecoin trust ETF. The announcement was made on May 20.

The SEC stated in its documentation that the delay is due to legal and policy issues related to these proposals, emphasizing that this does not imply that conclusions have been reached by the commission. Additionally, the SEC has also postponed its decision on Bitwise's proposal for an Ethereum ETF that allows staking.

James Seyffart, an ETF analyst at Bloomberg Intelligence, noted that regardless of the SEC's leadership, the agency typically uses the full review period. He anticipates that the earliest approval could occur in late June or early July, although it is more likely to happen in early the fourth quarter.