The SEC's recent actions are consistent with its historical practices, extending the review period to the statutory maximum before making a decision.
Original Source: cryptoslate
Translation: Blockchain Knight
On May 13, the SEC postponed decisions on multiple ETF applications related to crypto assets, including those submitted by Grayscale and BlackRock.
These delays extend the agency's review timeline, aligning with market expectations that the SEC will not approve any applications before the last quarter of 2025.
The applications for SOL and LTC spot ETFs submitted by Grayscale have been postponed, with new submission deadlines set for August 11 and October 10, respectively.
The SEC also delayed action on BlackRock's request to enable physical redemptions for its already approved spot BTC ETF. There is no updated deadline for this application, as it primarily involves technical mechanisms rather than preliminary approval.
Additionally, the SEC confirmed receipt of the 19b-4 application form for the spot DOGE ETF submitted by 21Shares, thereby initiating the formal review timeline for this product. This application has started the countdown for a final decision based on the agency's statutory schedule.
Decisions Expected Later This Year
The SEC's latest moves continue its consistent pattern of step-by-step reviews of over 70 crypto asset ETF proposals, which are currently at various stages of evaluation. On April 29, the SEC postponed decisions on another five crypto asset-related ETFs.
Bloomberg ETF analysts James Seyffart and Eric Balchunas described the current delay cycle as routine.
Seyffart stated that the delays were "expected," and that the final deadlines for most affected products are not earlier than October.
Balchunas added that the SEC is unlikely to issue substantial approvals before newly confirmed Chair Paul Atkins completes internal meetings and strategic discussions with staff.
He said, "They have been meeting with outsiders. They may be formulating strategies. Only after that is it likely that relevant applications will be approved."
Regulatory Roadmap
The SEC's decisions on crypto asset ETF applications follow a multi-stage statutory process based on proposed rule changes published in the Federal Register.
The agency typically operates on review intervals of 45 days, 90 days, 180 days, and 240 days, allowing multiple opportunities to postpone decisions before reaching final deadlines.
The SEC's recent actions are consistent with its historical practices, extending the review period to the statutory maximum before making a decision.
None of these ETF applications will reach their final deadlines before the end of the third quarter, leaving applicants and investors waiting for clarity on the regulatory direction of investment tools related to crypto assets.
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