The US Securities and Exchange Commission (SEC) announcement Delay in decisions regarding approval of Ethereum ETF staking from Asset Manager Grayscale. This set-off occurs when the SEC is waiting for confirmation of the pro-crypto commissioner Paul Atkins.
SEC postpones approval for Ethereum ETF
February 14, 2025, NYSE Arca, Inc. submitted the proposed rule changes to the SEC to amend Grayscale’s Ethereum Trust ETF and Grayscale Ethereum Mini Trust ETF listings and trading rules to allow staking.
The proposal was published on March 3, 2025 for public comment. Under the Securities and Exchange Act of 1934, the SEC must take such action. suggestion This period can be extended for good reason within 45 days.
The original deadline for the SEC decision was April 17, 2025, but the committee has now extended this time slot to June 1, 2025, allowing for a thorough evaluation of the proposal.
At the same time, Fox journalist Eleanor fears It has been reported The SEC is delaying its decision until June 3, 2025 on whether to allow WisdomTree and Vaneck to implement physical creations and redrawing of Bitcoin and Ethereum Spot ETFs.
As reported by Terret, the in-kind process allowed for the direct exchange of underlying assets (Vitcoin and Ethereum) rather than converting them into cash previously mandated by the SEC under the leadership of Gary Gensler.
A new era of cryptography?
The delay in Atkins’ arrival at the SEC was due in part to a procedural procedure that required. President Trump’s approval And then an official oath. This sign-off is expected to occur soon, but it affected the future of crypto regulations, putting agents in a transitional state.
However, this shift in regulatory approach identifies a potential turning point for the cryptocurrency industry. Under Gensler’s tenure, the SEC was criticized for its harsh, strictness. A stance with a lot of execution Towards cryptocurrency that has thwarted innovation and created uncertainty among many market participants.
Conversely, the expected arrival of Atkins, known in his procrypted perspective, may shed a new era of more favorable regulatory conditions.
Atkins’ position could pave the way for approval of numerous Altcoin ETFs submitted by various asset managers, with the aim of providing broader exposure to cryptocurrencies such as XRP, Cardano, and Solana.
ETH, the second-largest cryptocurrency in the market, traded at $1,630 on Monday, up 6% per week. In the long time frame, tokens are still down 15% after sales in February and March. ETH Drops towards $1,380.
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