SEC postpones decision on several crypto ETF filings after Paul Atkins assumes leadership
- The US SEC postponed its decision on several digital asset ETF filings from Grayscale, Canary Capital and Bitwise.
- The agency shifted its decision to June 10 and 11, according to documents shared on its website.
- This follows Paul Atkins assuming the position of SEC Chair.
The Securities & Exchange Commission (SEC) released several documents on Thursday stating that it is delaying its decision on crypto exchange-traded fund (ETF) filings from Grayscale, Bitwise and Canary Capital as it seeks more time to conclude whether or not to approve the applications.
SEC seeks more time for crypto ETF decisions despite Paul Atkins beginning role as Chair
The SEC has postponed its decision on a couple of crypto ETF applications from asset managers, according to documents on its website. The delayed filings include applications from Grayscale to convert its Polkadot (DOT) Trust into an ETF, Bitwise's combined Bitcoin (BTC) and Ethereum (ETH) ETF, and Canary Capital's submission to list a Hedera (HBAR) ETF.
The SEC claims it will require additional time to properly act on the filings, so it is postponing its decision until June 10 and 11, respectively.
"The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein," the SEC noted in the document.
"The 45th day after publication of the notice for this proposed rule change is April 26, 2025. The Commission is extending this 45-day time period," the SEC added.
The extension comes days after Paul Atkins officially assumed his role as SEC Chair. Atkins took over from Mark Uyeda, who functioned as acting Chair for the agency following Gary Gensler's resignation in January.
With Atkins now onboard, he faces several crypto ETF applications that are awaiting a decision. These include proposals for XRP ETFs, Solana ETFs, Dogecoin ETFs and Ether staking within existing spot ETH ETFs.
Considering Atkins' pro-crypto history, the crypto community remains confident that the new SEC administration will approve most of the recent crypto ETF filings.
Atkins is also set to speak at the next crypto roundtable, which the SEC will host on Friday. This will be his first roundtable as Chair of the agency.
Author
Michael Ebiekutan
FXStreet
With a deep passion for web3 technology, he's collaborated with industry-leading brands like Mara, ITAK, and FXStreet in delivering groundbreaking reports on web3's transformative potential across diverse sectors. In addi
