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The SEC has postponed the decision on the staking and physical redemption of Crypto Assets ETFs until early June.
Recently, the U.S. Securities and Exchange Commission (SEC) announced that it will delay its decision on two proposed amendments related to Crypto Assets ETFs, with new review deadlines set for June 1 and June 3.
The first decision delayed by the SEC is to extend the review period for Grayscale's Ethereum (ETH) stake application until June 1, 2025. The proposal allows the Grayscale Ethereum Trust ETF (ETHE) and the Grayscale Ethereum Mini Trust ETF (ETH) to stake a portion of the custodied ETH.
The amendment was initially submitted by Grayscale on February 14 and was published in the Federal Register on March 3, with a preliminary decision deadline of 45 days, which is April 17.
But the SEC has extended its review period under Section 19 of the Securities Exchange Act of 1934, citing the need for more time to assess changes to the rules and related issues.
In addition, the SEC has also postponed its decision on another proposal submitted by the Cboe BZX exchange, which concerns the physical creation and redemption of the VanEck Bitcoin Trust (HODL) and the VanEck Ethereum Trust (ETHV).
The amendment was submitted on February 19 and published on March 5, which will modify the terms for creating and redeeming trust shares using digital assets instead of cash.
The initial 45-day review period was originally set to expire on April 19, but the SEC has extended it to June 3 for further deliberation.
In summary, these two postponed resolutions also reflect the SEC's cautious attitude when dealing with proposals related to Crypto Assets, and indicate that regulatory agencies need more time to ensure compliance and market stability while evaluating these complex issues.
What do you think about the SEC's decision to delay the staking and physical redemption of Crypto Assets ETFs? Do you think it's necessary for the SEC to adopt a cautious approach under the current loose governmental environment? See you in the comments!
(SEC #Regulatory Dynamics