The US Securities and Exchange Commission delayed rulings on Bitwise’s Ether-staking amendment and Grayscale’s proposed XRP ETF, extending review by 45 days and opening both for public comment.
Bloomberg analyst James Seyffart had predicted the move, noting the agency “typically takes the full time” permitted under 19b-4 filings.
“No matter how crypto-friendly this SEC is, there’s no conspiracy here,” he wrote on X.
Litecoin ETF may jump the queue
Seyffart argues a Litecoin product has a higher probability of early approval, given the regulator’s comfort with the asset’s longer price history and lower perceived risk.
Most outstanding altcoin ETF applications carry final deadlines in October, suggesting any nod before late June would be unusual.
Changing of the guard
Observers point to a softer SEC tone since Gary Gensler’s January resignation.
Cases against Gemini and Cumberland were dropped, feeding optimism that the commission will eventually green-light a wider slate of crypto funds—just not on the accelerated timeline some issuers hoped for.