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- SEC has delayed decisions on 21Shares XRP ETF and gray scale Dogecoin ETF to evaluate compliance with the regulations.
- Public comments are requested as part of the review process, with a review period extended in addition to the original deadlines.
The US Securities and Exchange Commission today extended its review period for Spot Crypto ETF applications from 21 Shares and Grås scale, and initiated formal procedures to evaluate them 21 Shares XRP Spot ETFThe Grayscale dogecoin spot etfand Grayscale xrp spot etf.
SEC canceled the original decision deadlines on May 21-22 to further investigate whether the proposals comply with Section 6 b (5) of the Exchange Act to prevent fraud and protect investors.
21Shares Core XRP Trust plans to track CME CF XRP dollar reference frequency and use Coinbase Custody for storage. Grayscales Dogececoin Trust would follow Coindesk’s Dogecoin Price Index, while its XRP confidence would track Coindesk’s XRP price index. All three ETFs would issue shares in 10,000-share blocks and hold only their respective digital assets.
Comment on the XRP ETF delay, Bloomberg ETF -Analyst James Seyffart mentioned Such delays are routine and expected.
“A bunch of XRP ETPs have dates in the coming days,” he wrote. “If we will see early approvals from Sec on any of these assets – I would not expect to see them until the end of June or early July early.
SEC emphasized that the procedure does not specify its final position on the applications. The agency seeks public comments within 21 days of federal register publication, with recall submissions on the ground within 35 days.
Updated to include grayscale XRP Trust -delay.
