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Briefly
- SEC extended periods of review for multiple CRYPTO ETF proposals, including Bitwise’s Dogecoin Etf, Greyscale’s Hedera Trust and Hbar Etf Canary Capital.
- Four Solana and Grayscale’s Cardano ETF submissions are also confronted with delayed decisions, with new deadlines set in July.
- The regulator said he was looking for further public comments and did not make any final applications.
The US Securities and Exchange Commission has expanded periods of review periods for multiple KRIPTO ETF applications, including those involving Dogecoin and Hbar, Wednesday and Thursday.
SEC launched a formal procedure on June 11 for Bitwise Dogecoin Etf and June 12 for Gray Heder trustextension of the deadlines seeking additional public comments. A similar document on Hbar Etf Canary Capital It was published on June 10th.
Four separate proposals of ETF from Solana from Bitwise, 21shares, Vaneck and Canary Capital were postponed until early July 2025. Grayscale Cardano Etf received an extension of July 15, while Bitwise’s Ethereum etf was confronted with the 6th July 6th.
About 72 ETFs associated with cryptocurrencies Are “Sitting with SEC awaiting approval for a list or list of options”, according to Bloomberg analyst Eric Balchunas, after a rounding from earlier in April.
The return of the date for the procedure is “at this point appropriate with respect to the legal and political issues that have been asked” from the proposed changes, the latest application of SEC is said at the proposal of Grayscale.
It is worth noting that in writing, SEC explained that delays did not “indicate that the Commission made any conclusions regarding any of the questions involved.”
Instead, this means that the regulator “is looking for and encourages interested persons to make comments on the proposed change of rules.”
When the exchanges want to cite new ETF products, they have to handle the “proposed rules” with DIP to modify their own standards of including to adapt to new products.
“Legal and Political Issues” mentioned Ovorni are on are whether these ETFs based on the KRIPTO fill the standards of “preventing false and manipulative works and practices” and “protection of investors and public interest” as required by Article 6 (b) (5). The law on the exchange of securities.
SEC then examines whether these changes are in accordance with the Federal Secretary Paper Laws.
For Bitwise Dogecoin ETF, Nyse Arca has submitted a list and trade of ETF under NYSE ARCA RULE 8.201-E (Trust shares based on goods), with sections intended for monitoring the success of a particular goods or derivatives, as the exchange maintains a fair and transparent trade.
For the proposed HEDER ETF, Nasdaq submitted to the list of etf under Nasdaq Rule 5711 (D)which divides similar aspects as the rules of NYSE, setting up a framework for the structuring, trading and monitoring of these entrusted shares.
The Canary proposal of Hbar ETF is also questioned according to this rule.
Edited Sebastian Sinclair
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