U.S. Securities and Exchange Commission (SEC) has delayed decisions regarding Bitwise’s Bitcoin and Ethereum ETFs, as well as Canary Capital’s Hedera ETF. The SEC cited the need for additional time to navigate a flood of ETF applications.
The SEC delayed its decision on Bitwise Bitcoin according to documents dated 24 April.BTCEthereum (ETHCanary Capital Hedera ETFs and ETFs.HBARETF has been given new deadlines to June 10 The following are some examples of how to get started: June 11, respectively. The SEC stated in both cases that it needed more time to review proposals thoroughly and take into account public feedback.
The SEC is dealing with an increasing number of applications for crypto ETFs. This postponement wave reflects this trend. One Another recent delay Grayscale has applied to convert their Polkadot into a (DOTThe new deadline for investing in ETFs is June 11, 2018.
These delays coincide with a change in leadership at the SEC. Paul Atkins, a crypto-friendly leader has taken over. stepping in As the new chair of the agency. This appointment may mark a shift in SEC policy on digital assets investment products and pave the way for future crypto ETFs.
James Seyffart, an analyst at Bloomberg has been tracking The growing number of ETF applications currently waiting for regulatory approval. ETFs that are tied to Solana, for example, have pending applications.SOLRippleXRP), Sui (SUIBitcoin (Litecoin)LTC), Axelar (AXLBinance coin (BNB), Cardano (ADA), Avalanche (AVAXDogecoinDOGE), Aptos (APTChainlinkLINKBonkBONK), and even newer memecoins like Pudgy Penguins (PENGU), Official Trump (TRUMP), Melania (MELANIA).
The SEC will also be reviewing index funds, which bundle several cryptocurrencies, and additional ETFs based upon BTC or ETH.
Balchunas has been unable to keep up with the wave in applications for ETFs for Altcoins believes Bitcoin ETFs continue to be the dominant crypto ETFs, even when altcoins-based ETFs eventually get approved.
“… Bitcoin ETFs command 90% of all the crypto fund assets globally. While a TON of alt/meme coin ETFs are likely going to hit market this year, they will only make minor dent, bitcoin likely to retain at least 80-85% share long-term,” Y wrote On X.
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Source: crypto.news
