SEC Delays Decision on XRP Trust Funds: Insights into Upcoming ETF Approvals

On May 20, the U.S. Securities and Exchange Commission (SEC) announced it would delay the decision deadlines concerning the XRP Trust Funds proposed by 21Shares and Grayscale, along with the Grayscale Dogecoin Trust Fund ETF. This postponement is attributed to the intricate legal and policy considerations surrounding these proposals. Importantly, the SEC clarified that this does not imply any determination regarding the merits of these issues. Furthermore, the regulatory body has also deferred its decision on the Bitwise Ethereum ETF which seeks to incorporate a staking mechanism. Bloomberg Intelligence’s ETF analyst, James Seyffart, noted that entities often fully utilize the allotted review period. While approvals might be anticipated as early as late June or early July, a more realistic timeframe leans towards early Q4.