MAIN CONCLUSIONS:
- The SEC postponed its decision on the proposed changes of Rules 19B-4 that would allow the ETF trade depending on the specific price of Hadera and Polkadot.
- The agency has also postponed a decision on an asset proposal depending on the results of Bitcoin and Ethereum.
- There are 72 applications related to crypto that currently expect approval, and these are part of that group.
The United States Stock Exchange and Securities Commission (SEC) has decided to wait longer before making a decision on requests to change the rules. These changes would allow new funds quoted in exchange (ETF) that follow the current price of Polkadot and Hedera, and another background that tracks how Bitcoin and Ethereum are making. This update was shared in official documents on Thursday.
The SEC has until June 11 to make a decision on the requests for change of rules of the Nasdaq exchange. These requests are to launch the ETF Canarian Hbar and make the confidence of the gray scale into an ETF. The SEC also has until June 10 to decide on a similar request from the New York Stock Exchange for a Bitwise Bitcoin and Ethereum ETF.
Canary Capital, Grayscale Investments and Bitwise Investments presented documents for funds earlier this year. They are part of a wave of ETF that the applicants have suggested in previous months to monitor the main Altcoins after the successful launch of last year products that monitor the price of Bitcoin and Ethereum. Applicants have 72 ETFs related to cryptographic or cryptographic who expect the approval of the SEC.
Last week, Canary submitted a request for a fund that monitors the Tron Trx token, which would include rethinking advantages. In addition, it has suggested to detect Solana, Pengu Yy Sui ETF within its presentations. Grayscale has submitted funds linked to Solana, Cardano, XRP, Dogecoin, Litecoin and Avalanche, while Bitwise has submitted an ETF request that monitors Doge and Apots, including several others.
Applicants, including cryptocurrency -centered companies and established financial organizations, have requested funds that focus on the options of options and companies that contain and operate publicly in that field.
“It’s going to be an exciting year,” joked the Senior ETF analyst from Bloomberg, Eric Balchunas, in a recent publication about X (previously Twitter).
The Bitcoin Trust (GBTC) of the gray scale administers almost $ 18 billion in assets, which makes it the second largest among the 11 ETF of Bitcoin Spot approved by the SEC last year. It became an existing trust. The ETF Bitwise Bitcoin manages around $ 3.6 billion in assets, classifying the fifth between these products.
These Bitcoin assets achieve around $ 100 billion in AUM and have been some of the fastest expanding products in the 32 years of ETF industry history, which creates the need for more cryptographic funds.
Hedera increases around 5% in a single day, while Polkadot has risen almost 7% in the last 24 hours.
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Discharge of responsibility: In Bitcoinik.com we present the most recent information in the encryption market. However, this information should not be considered as financial advice, and viewers must consult their financial advisors before investing.
