The US Securities and Exchange Commission (SEC) has delayed decisions on the three high-profile Crypto Exchange-Trade Fund (ETF), expanding the review deadline in October.
In a notice filed on August 18, the agency set new decision dates of October 8 Nyse Arca’s Truth Soculade Bitcoin and Etreum ETF, 16 October for 21Shares and Solana ETF of bitwaiz, and 21Shares for the 21Shares Core XRP Trust on 19 October.
The true social bitcoin and atherium ETF presented on 24 June is structured directly as a commodity-based trust holding bitcoin (BTC) and Ether (ETH) and issued shares supported by those assets. US President Donald Trump’s branded under the true social platform, it acts like other spots bitcoin and eTFs that are already in the market.
CBOE BZX also wants Approval For the first US Spot Solana ETF via filing from 21shares and bitwaiz. These products will keep Solna (Sol) tokens and will give investors a safe way to expose the price performance of Solna.
A separate application from 21Shares is aimed at launching the Core XRP Trust, designed for hold (XRP) and tracking its market price. The first was filed in February and later revised, the trust was reaching close to its 180-day time limit on Wednesday, before the SEC additional to review itself 60 days.
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Size on October as a big month for ETF ruling
The most recent ETF extensions are not out of simple. SEC is filing ETF extensions in all summer, and many of them are being decided on this decline.
In March, Costeletgraph reported that SEC delayed decisions on several altcoin ETF proposals, including products tied to XRP, Litcoin (LTC) and Dogin (DOGE).
One of them was the application of a coinshurus for the spot Litcoin ETF, which would directly capture the LTC and release shares supported by tokens. Cointelegraph mentioned that SEC’s expansion kept its time limit in the same cluster of reviews as other altcoin filing.
https://www.youtube.com/watch?v=2sonoeg6WC8
Separately, the SEC extended a review of the request of bitwaiz, which allows in-compositions and redemption for its spot bitcoin and atherium ETFs. Now slate for September, this decision will determine whether investors can exchange ETF shares, which can exchange shares for the underlying crypto directly instead of cash.
SEC often uses its full expansion period to evaluate new products and collect public feedback. Bloomberg ETF analyst James Safarte wrote in a post on 20 May that SEC “usually takes full time to respond to the 19B4 filing.” He said that “almost all of these filing have the last dates in October,” and an initial decision would “be out of the ideal”.
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Blackrock dominates as ETF funds grow in popularity
The American market is now counted a dozen spot bitcoin ETFs, several ether products and the growing roster of applications for Sol, XRP and other tokens. Globally, more than a hundred crypto-related ETFs are listed.
Blackrock’s Ishras Bitcoin Trust dominates the region, with more than $ 87 billion Property Under management (AUM). Its scale, liquidity and the strength of the brand have separated it, making the opponents very small.
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