The SEC has announced its decision to extend the review period for several crypto ETFs. This includes staking proposals for the Ethereum ETFs, as well as XRP and Dogecoin ETFs, with the commission pushing its decision to the final deadline for these funds. SEC Delays Decision On Ethereum, XRP, and Dogecoin ETFs In an SEC release , the commission revealed that it is extending the review period for the proposed rule change to permit staking in BlackRock’s Ethereum ETF . The agency stated that it finds it appropriate to designate a longer period within which it will take action on the proposed rule change. That way, it has sufficient time to consider the proposal and the issues in it. With the extension, the SEC now has until the final deadline on October 30 to approve or disapprove the proposed rule change. The commission also made a similar decision on the proposed rule change to permit staking in Fidelity and Franklin Templeton’s Ethereum ETFs. The final deadline for the SEC to approve or disapprove the proposed rule changes for both funds is on November 13. There are also similar applications from other Ethereum ETF issuers , such as Grayscale and 21Shares, to permit staking for their respective funds. The final deadline for 21Shares and Grayscale’s proposed rule change is October 23 and 29, respectively. Based on this, there is the possibility that the SEC could approve staking for the ETH ETFs as early as October 23. This will be similar to how the commission approved all funds to launch at the same time last year. Meanwhile, the SEC is expected to approve these funds, considering that it already clarified that staking activities aren’t securities . Staking for these funds will enable investors to earn yields while also gaining spot exposure to Ethereum. SEC Also Delays Decision On XRP And Dogecoin ETFs The SEC has also delayed its decision on Franklin Templeton’s XRP ETF and Bitwise’s Dogecoin ETF . Similar to the Ethereum ETFs decision, the commission said that it needed more time to review the proposed rule change and the issues therein. It will now have until the final deadline on November 14 to approve or disapprove the proposed rule change to list and trade shares of this fund. It is worth noting that the SEC had already delayed the other XRP ETF applications to the final deadline. Grayscale, Bitwise, 21Shares, CoinShares, Canary Capital, WisdomTree, and Franklin Templeton have all filed for an XRP fund under the 33 Act. The first final deadline is Grayscale’s, which comes up on October 18. Meanwhile, the SEC delayed its decision on the proposed rule change for Bitwise’s Dogecoin ETF till the final deadline, which comes up on November 12. Grayscale has also filed for a DOGE ETF, with its final deadline coming up on October 18.
