US Securities and Exchange Commission (Sec) has announced A delay in its decision regarding the approval of Staking for Ethereum ETFs from Asset Manager Grayscale. This setback comes when SEC is waiting for the confirmation of Pro-Crupto Commissioner Paul Atkins, whose appointment has not yet been completed.
SEC postponing approval at Ethereum ETFS
On February 14, 2025, NYSE ARCA, Inc. submitted a proposed rule change to Sec and tried to change the listing and trade rules for Grayscales Ethereum Trust ETF and Grayscale Ethereum Mini Trust ETF to enable stakes.
The proposal was published for public comment on March 3, 2025. According to Securities Exchange Act from 1934, SEC must act on such proposal Within 45 days, although it may extend this period for good cause.
The original deadline for SEC’s decision was April 17, 2025, but the Commission has now extended this time frame by June 1, 2025 to enable a thorough evaluation of the proposal.
In a parallel move, fox -journalist Eleanor scares reported that SEC also delays its decision to allow Wisomtree and Vanecke to implement creations and redemption of cheek and redemption for their bitcoin and Ethereum Spot ETFS until June 3, 2025.
As reported by Terret, the natural process enables direct exchange of the underlying assets-bitcoin and Ethereum-scarre than converting them to cash, which has previously been mandated by Sec under Gary Gensler’s leadership.
New era for crypto?
Atkin’s delayed arrival at Sec is partly due to procedural steps that require President Trump’s approval And a formal swear-in. While this suspension is expected to occur soon, it has left the agency in a transitional state, with consequences for the future for crypto regulation.
But this change in the regulatory method signals a potential turning point for the Cryptocurrency industry. During Gensler’s service, Sec was criticized for its strict, position Against Cryptocurrency, which suffocated innovation and created uncertainty for many market participants.
Conversely, the expected arrival of Atkins, known for its pro-cryptop perspective, can a new era with more favorable regulatory conditions.
Atkin’s position can pave the way for approval of many altcoin ETFs submitted by various asset managers, which aim to provide a broader exposure to Cryptocurrencies such as XRP, Cardano and Solana.
ETH, the second largest cryptocurrency on the market, is traded at $ 1,630 on Monday, an increase of 6% every week. On longer time frames are still down by 15% after the sale in February and March that saw the price of Ethics Drop to $ 1,380.
Image from Dall-E, diagram from tradingview.com
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