The Securities and Exchange Commission (SEC) delayed decisions on the requests of the negotiated fund in exchange for crypto (ETF) on August 18.
Delays extended the periods of revision of products related to digital assets, covering Bitcoin, XRP, Litecoin and Dogue. The reason is probably the work of the agency to establish a complete framework of digital assets.
The reports affect the truth of the truth Bitcoin and ETF ETF, ETF, Spot Litecoin ETF of Coinshares and several ETF XRP applications from 21Shares, Coinshares, in the Bit, Canari and gray levels.
The SEC also delayed the 21Shares ignition proposal for ETF ETF from Grayscale and the Grayscale ETF Dogecoin Etf Spotcoin application.
With the exception of the Truth depot, delayed products all have end deadlines for October.
The framework strategy is a priority
Analysts of Bloomberg ETF Eric Balchunas and James Seyffart suggested in July that delays Reflect the SEC strategy To establish approval criteria before individual green applications.
Seyffart said that “could be the dry way of blocking these things to become ETF before developing an ETF framework of digital assets”.
He added that the frame would create “a kind of generic list standard for what digital assets are authorized in an ETF packaging and what criteria they will use”.
The mentioned approach aims to replace the revision process on a case -by -case basis, which obliges each ETF Crypto to secure a commission order before the list.
The SEC would have collaborated with American exchanges since July on generic registration standards for ETF based on tokens that would eliminate individual change of rule requests.
Generic approach
The proposed system would allow the ETF sponsors to bypass the customary form 19b-4 form process when the underlying tokens meet the predetermined criteria.
As part of the proposed framework, the sponsors would submit registration statements on the S-1 form, would observe the periods of examination of 75 days standard and list the products once the waiting periods.
Stock market capitalization, the volume of negotiations on a scale and daily liquidity are classified among the measures under discussion.
Seyffart described the standard generic approach as “very good news for the Crypto ETF space”, arguing that it would offer “clear rules of the road”.
Balchunas described the concept as “what everyone wants, what makes sense and what we think we are coming.”
Consequently, the first FTF approvals linked to Altcoin could probably only start until October.
