SEC Delays Decision on Cryptocurrency Trust Fund Proposals

According to BlockBeats, the U.S. Securities and Exchange Commission (SEC) has postponed its decision on the proposals submitted by 21Shares and Grayscale for XRP trust funds and Grayscale's Dogecoin trust fund ETF. The announcement was made on May 20. The SEC stated in its documentation that the delay is due to legal and policy issues related to these proposals, emphasizing that this does not imply any conclusions have been reached by the commission. Additionally, the SEC has also postponed its decision on Bitwise's proposal for an Ethereum ETF that allows staking. James Seyffart, an ETF analyst at Bloomberg Intelligence, noted that regardless of the SEC's leadership, the agency typically utilizes the full review period. He anticipates that the earliest possible approval could occur by late June or early July, though it is more likely to happen in the early fourth quarter.