SEC Extends XRP and Litecoin ETF Decisions While Accepting TRX Staking Application

In a pivotal announcement on May 23, Bloomberg’s ETF analyst, James Seyffart, reported a significant development regarding the U.S. Securities and Exchange Commission (SEC). The regulatory body has decided to extend deadlines for evaluating several exchange-traded funds (ETFs), including those related to XRP from Bitwise and CoinShares, as well as CoinShares’ Litecoin ETF. This extension is critical for investors as it allows additional time for scrutiny amidst ongoing market fluctuations. Furthermore, the SEC has also pushed back its decision on the highly anticipated Fidelity FBTC physical Bitcoin redemption. Notably, the SEC has **formally accepted** the staking ETF application for TRX submitted by Canary Capital, highlighting a growing interest in cryptocurrency staking. These developments underscore the SEC’s cautious approach towards crypto-based financial products as they continue to assess market stability.