Tag:

filings

Sec Extends Review Of Nine Crypto Etf Filings Into October
Crypto Trends

SEC Extends Review of Nine Crypto ETF Filings Into October

by admin



The US Securities and Exchange Commission (SEC) has pushed back decisions on a fresh round of cryptocurrency exchange-traded fund (ETF) proposals, leaving Bitcoin, Ethereum, Solana, and XRP funds waiting until October for a verdict.

In notices filed on August 18, the regulator extended its review period for multiple applications, including the Truth Social Bitcoin and Ethereum ETF, spot Solana ETFs from 21Shares and Bitwise, and the 21Shares Core XRP Trust. 

The new decision dates now fall on October 8 for the Truth Social ETF, October 16 for the Solana filings, and October 19 for the XRP trust.

The Truth Social Bitcoin and Ethereum ETF, first submitted on June 24, is structured as a commodity-based trust that directly holds Bitcoin and Ether. Shares of the fund would be backed by the underlying assets. 

Despite its branding under Donald Trump’s Truth Social platform, the product is designed to function in the same way as other spot Bitcoin and Ether ETFs already approved in the United States.

The Cboe BZX exchange is also seeking approval for the first spot Solana ETFs in the country, filed separately by 21Shares and Bitwise. These funds would give institutional and retail investors regulated access to Solana’s price movements. 

In addition, 21Shares has applied for a Core XRP Trust, a product designed to hold XRP and mirror its market value. The application, initially filed in February, was approaching its 180-day deadline before the SEC extended its review by another 60 days.

Beyond these products, the SEC also pushed back rulings on other crypto-linked filings, including CoinShares’ proposed spot Litecoin ETF and Grayscale’s application for a spot Dogecoin ETF. The regulator has delayed a total of nine applications, with most of the new deadlines set for October.

Bloomberg ETF analysts Eric Balchunas and James Seyffart said the delays appear to reflect the SEC’s broader strategy of developing a framework for digital asset ETFs rather than continuing with the current case-by-case approval system. 

Seyffart suggested that the commission is working on creating clear listing standards that would define which digital assets can be wrapped into ETFs and under what criteria.

The approach could provide greater consistency for the growing number of crypto ETF applications, but in the meantime, issuers and investors will have to wait longer for clarity.

Also Read: Grayscale Files with SEC for Dogecoin ETF Under Ticker GDOG



Source link

0 comments
0 FacebookTwitterPinterestEmail
Decrypt logo
GameFi Guides

Solana, Pudgy Penguins ETF Filings Added to SEC’s Crypto To-Do List

by admin



In brief

  • A proposed Invesco Galaxy fund would track the performance of Solana.
  • Multiple issuers have now filed applications for Solana ETFs, including Fidelity, VanEck and Bitwise.
  • Cboe has filed for a 19b-4 rule change that would enable the listing of a Canary Capital Pengu-based fund.

U.S. regulators on Wednesday added separate filings to their docket for a proposed Solana exchange-traded fund and a rule change that would allow the listing of an investment product tied to Pudgy Penguins tokens.

The Invesco Galaxy Solana ETF joins a list of eight other funds that would track the performance of the sixth-largest crypto by market capitalization.

Meanwhile, a 19b-4 request by Cboe would allow the Canary PENGU ETF to trade on the exchange.

The filings are among the latest developments in an increasingly heated crypto ETF space, which has intensified since the dramatic success of spot Bitcoin and Ethereum funds over the past 18 months, and amid a more receptive political environment for crypto products.

The SEC is weighing more than two dozen applications for altcoin-based ETFs, including not only Solana but XRP, Dogecoin, Cardano, Polkadot, and Hedera.

Earlier this month, seven Solana fund issuers filed amended S-1 forms with the SEC, clarifying language that would enable them to stake the Solana they hold.

Staking refers to the process of pledging tokens to a decentralized network in exchange for yield, or financial rewards.



Its inclusion in ETFs is a point of contention among federal regulators, who previously delayed their decision on staking in Ethereum ETFs due to concerns over the financial and security-related risks posed by the practice.

Solana, XRP, and Litecoin spot ETFs are near locks at 95% odds of approval from the U.S. Securities and Exchange Commission by the end of 2025, according to estimates last week by analysts Eric Balchunas and James Seyffart of Bloomberg.

Dogecoin, Cardano, Polkadot, Hedera, and Avalanche spot ETF applications have a 90% probability of approval by year-end. Such altcoin funds seemed unlikely until the success of the BTC and ETH ETFs, which have generated $47 billion and $4 billion in net investments, respectively.

The Invesco Galaxy Solana ETF will  trade under the QSOL ticker. Galaxy Digital Funds will serve as the fund’s execution agent, purchasing and selling SOL on behalf of the fund. Coinbase will serve as the fund’s custodian.

Crypto-focused investment management firm Canary Capital filed for its Pudgy Penguin fund in March, one of several other altcoin ETFs that it has proposed to the SEC.

Solana, the native token of the Solana network, was recently trading at $143, down nearly 1% over the past 24 hours.

It has declined by roughly 18% over the past month, as most altcoins have experienced a downturn. However, it remains a favored blockchain among many developers due to its speed and efficiency.

PENGU was roughly unchanged from Tuesday at the same time and has fallen 22% over the past month.

Edited by Sebastian Sinclair

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.



Source link

0 comments
0 FacebookTwitterPinterestEmail
Shaurya Malwa
NFT Gaming

Bloomberg Analysts See 90% Chance SEC Clears Most Crypto ETFs Filings

by admin



Odds are stacked that the U.S. Securities and Exchange Commission approves most of the filed crypto exchange-traded funds, including the various XRP ETFs, by their respective deadlines, according to Bloomberg Analysts James Seyffart and Eric Balchunas.

“We are raising our odds for the vast majority of the spot crypto ETF filings to 90% or higher,” Bloomberg Intelligence’s James Seyffart said in a post on X. “Engagement from the SEC is a very positive sign in our opinion.”

According to the analysts, ETFs for assets like Litecoin, Solana, XRP, Dogecoin, and Cardano all now sit at or above the 90% mark.

(Bloomberg)

These estimates reflect growing optimism from ETF specialists following a wave of 19b-4 acknowledgements and S-1 amendment requests from the Securities and Exchange Commission.

Analysts view this back-and-forth process as a signal that the SEC is now more willing to work with issuers.

The only asset lagging behind is SUI, filed solely by Canary. Bloomberg assigns it a 60% chance of approval, citing a lack of regulated futures and regulatory uncertainty.

Bettors on Polymarket are also feeling optimistic.

(Polymarket)

They are giving a 98% chance that an XRP ETF gets approved this year, and a 91% chance a SOL ETF gets the green light. It’s also likely that a DOGE ETF gets a go-ahead, with bettors giving that a 71% chance of happening.



Source link

0 comments
0 FacebookTwitterPinterestEmail
Decrypt logo
GameFi Guides

Solana ETF Applicants Submit Updated SEC Filings With Staking

by admin



In brief

  • Seven issuers filed amended S-1 forms for Solana exchange-traded funds on Friday.
  • Applicants are seeking federal regulators’ approval to launch ETFs with staking capabilities.

Seven ETF issuers filed amended S-1 forms for Solana exchange-traded funds with the U.S. Securities and Exchange Commission on Friday, clarifying language that would enable them to stake their held SOL.

The proposed ETFs from 21Shares, Bitwise, Fidelity, Franklin Templeton, Grayscale, VanEck, and Canary Capital aim to offer investors exposure to Solana by directly tracking the altcoin. 

The staking component would enable issuers to generate yield on the Solana held in their funds, allowing them to potentially offer higher returns to investors. Friday’s moves come following a Tuesday report from Blockworks, which cited sources saying that the SEC asked prospective Solana ETF issuers to update their S-1 filings.



Staking refers to the process of pledging tokens to a decentralized network in exchange for yield, or financial rewards. Its inclusion in ETFs is a point of contention among federal regulators, who previously delayed their decision on staking in Ethereum ETFs due to concerns over the financial and security-related risks posed by the practice.

The rash of filings comes as U.S. regulators and lawmakers ratchet back restrictions on the digital assets industry, and amid speculation that the SEC will soon greenlight Solana ETFs to trade in the U.S.

Under pro-crypto U.S. President Donald Trump, the digital assets industry’s two primary regulators, the SEC and the Commodity Futures Trading Commission, have shifted their approach to crypto—including the SEC dropping lawsuits against industry giants like Binance, Coinbase, and Kraken.

Commissioners have also ramped up their engagement with crypto companies over the past few months, with the aim to collaborate on shaping regulatory guardrails for the industry.

Federal regulators’ softening stances on crypto regulations has spurred an explosion in applications for ETFs based on a wide variety of cryptocurrencies, from meme coins such as Dogecoin, Official Trump, and Bonk to altcoins like XRP, Sui, and Avalanche. However, the agency has yet to approve spot ETFs based on cryptocurrencies other than Ethereum and Bitcoin. 

Although experts expect issuers to secure the go-ahead to offer Solana ETFs in the U.S. within the next few weeks, the approval process has been a long one. In May, the SEC pushed back its deadline to approve or deny a swath of spot Solana ETFs

Solana is trading at $147 as of writing time, down 3.5% in the past day, according to CoinGecko data.

Edited by Andrew Hayward

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.



Source link

0 comments
0 FacebookTwitterPinterestEmail
Altcoin ETF summer in limbo as SEC hits pause on DOGE, HBAR, and AVAX filings
NFT Gaming

Altcoin ETF summer in limbo as SEC hits pause on DOGE, HBAR, and AVAX filings

by admin



The U.S. Securities and Exchange Commission (SEC) has hit the pause button on several crypto exchange-traded fund (ETF) proposals, putting approval in doubt.

According to filings published this week, the SEC is delaying its decision for three ETF proposals, including Dogecoin, Hedera, and Avalanche.

The ETFs, filed respectively by Bitwise, Grayscale, and VanEck earlier this year, aim to launch spot ETFs backed directly by DOGE (DOGE),  HBAR (HBAR), or AVAX (AVAX), which would offer investors regulated access to the assets if approved.

However, the SEC stated it needs more time to assess the proposals. Citing concerns around investor protection and market integrity, the regulatory commission noted it is opening proceedings to allow for further analysis of whether the ETFs meet legal standards.

“Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved,” the releases read. “Rather, the Commission seeks and encourages interested persons to provide comments on the proposed rule change.”

While not an outright rejection, the SEC’s move contrasts sharply with industry expectations. Earlier this week, Bloomberg analyst James Seyffart placed odds of approval for each of the assets around 75% to 80%, fueled by reports of positive engagement among the commission and issuers. 

The regulatory decision quickly rippled through the markets, dampening investor sentiment and triggering a sell-off across the three tokens. AVAX recorded the biggest loss, falling 12.5% from around $21.25 to $18.60 in a matter of hours. HBAR followed with an 11.5% slide, dropping from $0.1708 to $0.1512.

Despite being the least affected of the three, DOGE also dropped significantly, shedding 10.2% from $0.1906 to $0.1711. While all three tokens have shown minor recoveries since the initial dip, they remain in the red as uncertainty around ETF approval lingers.



Source link

0 comments
0 FacebookTwitterPinterestEmail
Close