The US Securities and Alternate Fee (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 choice dates of Oct. 8 for NYSE Arca’s Reality Social Bitcoin and Ethereum ETF, Oct. 16 for 21Shares’ and Bitwise’s Solana ETFs, and Oct. 19 for the 21Shares Core XRP Belief.
The Reality Social Bitcoin and Ethereum ETF, submitted on June 24, is structured as a commodity-based belief holding Bitcoin (BTC) and Ether (ETH) straight and issuing shares backed by these belongings. Whereas branded beneath US President Donald Trump’s Reality Social platform, it capabilities like different spot Bitcoin and Ether ETFs already in the marketplace.
Cboe BZX additionally seeks approval for the primary US spot Solana ETFs by way of filings from 21Shares and Bitwise. These merchandise would maintain Solana (SOL) tokens and provides traders a safe option to acquire publicity to Solana’s value efficiency.
A separate software from 21Shares goals to launch the Core XRP Belief, 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.
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October shaping up as a giant month for ETF rulings
The latest ETF extensions are usually not out of the abnormal. 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).
Amongst them was CoinShares’ software for a spot Litecoin ETF, which might maintain LTC straight and concern 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.
Individually, 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 trade ETF shares straight for the underlying crypto slightly 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 put up on X on Might 20 that the SEC “sometimes takes the total time to answer a 19b‑4 submitting.” He added that “virtually all of those filings have last due dates in October,” and an early choice could be “out of the norm.”
Ether ETFs smash information as crypto merchandise see $3.75B inflows
BlackRock dominates as ETF funds develop in reputation
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 Belief dominates the sector, with greater than $87 billion in belongings beneath administration (AUM). Its scale, liquidity and model power have set it aside, drawing the majority of flows whereas rivals stay far smaller.
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