SEC pushes again choices on Truth Social, Solana, XRP crypto ETFs 

Discover key highlights within the Crypto house. This article dives into: “SEC pushes back decisions on Truth Social, Solana, XRP crypto ETFs “.

The US Securities and Exchange Commission (SEC) has delayed rulings on three high-profile crypto exchange-traded funds (ETFs), extending overview deadlines into October. 

In notices filed Aug. 18, the company set new determination dates of Oct. 8 for NYSE Arca’s Truth Social Bitcoin and Ethereum ETF, Oct. 16 for 21Shares’ and Bitwise’s Solana ETFs, and Oct. 19 for the 21Shares Core XRP Trust.

The Truth Social Bitcoin and Ethereum ETF, submitted on June 24, is structured as a commodity-based belief holding Bitcoin (BTC) and Ether (ETH) instantly and issuing shares backed by these belongings. While branded below US President Donald Trump’s Truth Social platform, it features like different spot Bitcoin and Ether ETFs already in the marketplace.

Cboe BZX additionally seeks approval for the primary US spot Solana ETFs by means of filings from 21Shares and Bitwise. These merchandise would maintain Solana (SOL) tokens and provides traders a safe strategy to acquire publicity to Solana’s value efficiency.

A separate software from 21Shares goals to launch the Core XRP Trust, designed to carry (XRP) and monitor its market worth. First filed in February and later amended, the belief was approaching its 180-day deadline on Wednesday earlier than the SEC granted itself a further 60 days to overview.

Related: US regulator considers simplified path to marketplace for crypto ETFs

October shaping up as a giant month for ETF rulings

The most up-to-date ETF extensions usually are not out of the odd. The SEC has been submitting ETF extensions all summer time, and lots of of them are shaping as much as be selected this fall.

In March, Cointelegraph reported that the SEC had delayed choices on a number of altcoin ETF proposals, together with merchandise tied to XRP, Litecoin (LTC) and Dogecoin (DOGE).

Among them was CoinShares’ software for a spot Litecoin ETF, which might maintain LTC instantly and problem shares backed by the token. Cointelegraph famous that the SEC’s extension positioned its deadline in the identical cluster of fall opinions as different altcoin filings.

Separately, the SEC prolonged its overview of Bitwise’s request to permit in-kind creations and redemptions for its spot Bitcoin and Ethereum ETFs. Now slated for September, that call would decide whether or not traders can change ETF shares instantly for the underlying crypto somewhat than money.

The SEC usually makes use of its full extension durations to guage new merchandise and accumulate public suggestions. Bloomberg ETF analyst James Seyffart wrote in a submit on X on May 20 that the SEC “typically takes the full time to respond to a 19b‑4 filing.” He added that “almost all of these filings have final due dates in October,” and an early determination could be “out of the norm.”

Ether ETFs smash information as crypto merchandise see $3.75B inflows

BlackRock dominates as ETF funds develop in recognition  

The US market now counts a dozen spot Bitcoin ETFs, a number of Ether merchandise, and a rising roster of functions for SOL, XRP and different tokens. Globally, over 100 crypto-related ETFs are listed.

BlackRock’s iShares Bitcoin Trust dominates the sphere, with greater than $87 billion in belongings below administration (AUM). Its scale, liquidity and model energy have set it aside, drawing the majority of flows whereas rivals stay far smaller.

US spot Bitcoin ETF belongings. Source: CoinMarketCap

Magazine: Bitcoin ETFs make Coinbase a ‘honeypot’ for hackers and governments: Trezor CEO

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