Bloomberg ETF analyst James Seyffart thinks the SEC is more likely to first approve a Litecoin ETF amid the raft of crypto funding filings the agency is currently considering.
The US Securities and Exchange Commission has delayed its decision on Bitwise’s application to add staking to its Ether exchange-traded fund and on Grayscale’s XRP ETF bid, which analysts had expected.
The SEC said on May 20 that it needed to extend its decision on Bitwise’s application by 45 days to “consider the proposed rule change and the issues raised therein.” The agency needed to either decide or punt its decision by May 22.
The agency also delayed deciding on Grayscale’s XRP (XRP) tracking ETF and Bitwise’s Solana (SOL) tracking fund while it seeks public comments and begins “proceedings to allow for additional analysis” of the proposals to ensure they meet regulatory standards.
