The U.S. SEC has delayed its decision on three spot-based ETF applications seeking to track XRP and Dogecoin. 

The proposed funds affected include the filings of Grayscale, 21Shares, and the Grayscale Dogecoin Trust. According to recent filings on its website, the SEC has initiated proceedings on these ETFs and has requested public comments from interested parties.

Similarly, the SEC has postponed its decision on an amendment that would allow the Bitwise Ethereum ETF to permit staking. This amendment aims to broaden investors’ exposure to the Bitwise Ethereum ETF by incorporating staking yields.

SEC Calls for Public Comments 

This request aims to help the securities regulator gather public input on the policy and legal concerns related to ETF filings. 

In the meantime, the commission clarified that it has not reached any conclusions regarding the legal and policy concerns. However, it signaled that the proposals only raised substantive questions that deserve broader input from the public. 

Notably, the comment period will run for 21 days from the publication of the recent filings in the Federal Register. The period for rebuttal comments is expected to linger for 35 days after publication in the Federal Register.  

Not New 

It is worth noting that the SEC’s latest action does not come as a surprise to crypto enthusiasts. Over the past few months, the securities regulator has postponed its decision on multiple crypto ETF proposals, including those seeking to track XRP and Dogecoin performance. 

In March, the SEC extended the review period for various crypto ETF applications from Grayscale, 21Shares, VanEck, and Canary. At the time, the SEC extended the decision deadline for Grayscale’s XRP Trust ETF application to May 21. 

It has now extended the review period once again to determine whether the proposed products have the necessary safeguards to prevent fraud and market manipulation, as mandated by Section 6(b)(5) of the Securities Exchange Act...
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