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SEC Delays Decision on Two Crypto ETFs
As the cryptocurrency ETF landscape in the US continues to grow daily, the SEC has announced delays for two ETF applications. While postponing the final decision on applications from Canary Capital and T. Rowe Price, the agency has also officially begun a comment period for the options related to the multi-asset fund by Grayscale.
The U.S. Securities and Exchange Commission (SEC) announced that it has delayed the decision timeline for two exchange-traded funds based on cryptocurrencies. The agency requested additional time to evaluate the Pudgy Penguins (PENGU) ETF application from Canary Capital and the Active Crypto ETF application from T. Rowe Price, extending the deadline for a final decision.

T. Rowe Price, one of the largest asset management firms in the US, submitted its application for an index ETF in October. This fund includes 15 cryptocurrencies, including Bitcoin and Ether, that meet the listing standards recently introduced by the SEC.

“More detailed evaluation is needed”
In its statement on the matter, the SEC emphasized that delays do not constitute final approval or rejection, but products that extend beyond Bitcoin and Ethereum require more detailed assessment due to market structure, investor protection, and potential manipulation risks.

Recently, the SEC has approved fund applications for many cryptocurrencies, including XRP, Solana, Dogecoin, and Chainlink.

Meanwhile, the agency, led by Chairman Paul Atkins, has also initiated a public comment period for a rule change application related to the listing of options for the “CoinDesk Crypto 5 ETF” created by Grayscale. This ETF tracks an index comprising five major cryptocurrencies: Bitcoin, Ethereum, XRP, Solana, and Cardano.