The US stock exchange supervision SEC does not promise your decision on listed funds on XRP and Dogecoin at short notice. The applicants, Grayscale investments and 21shares, obviously expected the notices about their planned Dogecoin and XRP ETFs very quickly. But the BEhörde has its own custom processing application, regardless of whether there is a new, crypto-friendly second line or not.
The longer decision -making was on May 21st announced And affects the 21shares Core XRP-Trust, the Grayscale XRP-Trust and the Grayscale Dogecoin-Trust. The SEC initiated the legally required phase, in which public statements and, if necessary, inputs for the applications are possible. The XRP and Dogecoin courses have nevertheless care of this standard procedure and they are stable.
The step of the second follows a now actually familiar pattern of delays in crypto ETFs. Last month, the regulatory authority extended the deadlines for Solana ETF applications from Bitwise and 21shares. According to James Seyffart, Senior ETF-Analyst at Bloomberg, it is nothing special if the SEC uses the full legal 240-day examination period, because it did it earlier.
As CNF reported, Grayscale submitted his Dogecoin ETF in January, and the SEC confirmed the assumption in March. 21Shares filed its XRP ETF application on March 11 and strives to list the Listrift on the Chicago stock exchange. Both companies want to enable their institutional investors indirect engagement in these cryptocurrencies.
The SEC examination process determines whether these ETFs meet the standards to prevent fraud and to protect investors. According to Seyffart, approval is not expected before June or early July and a final decision until October. In contrast to the approved Bitcoin and Ethereum ETFs, the authority takes time with the Altcoin ETFs.
As of May 21st, XRP is $ 2.355, an increase of 1.66% within 24 hours, as our market data show.
Dogecoin is $ 0.2264, an increase of 0.75%. The investors seem to be regarded as “business as usual”.
The SEC has become more careful under the Trump administration, which started on January 21. The authority has ended several crypto processes against companies, partly through discussions at the round table and comparison, partly by taking back complaints. This happened after she had approved 24 Bitcoin ETFs in January and 25 Ethereum ETFs in May and had lost an important process under the bid administration.
According to securities law, the SEC can check the ETFs for up to 240 days to collect public inputs and analyze technical details. The XRP application from 21Shares was submitted on March 11, and the delay announcement was published about 70 days later. This corresponds to historical patterns, since Bitcoin and Ethereum ETFs had to overcome similar hurdles before approval.
The new SEC chairman Paul Atkins thinks forward what has a positive effect on the permits. Seyffart says that admissions before October would be unusual with a crypto -friendly second. The SEC must weigh up between innovation and investor protection.
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