The US Securities and Exchange Commission (SEC) holds presentation Delayed decision on the approval of the staying for the Ethereum ETF of the asset manager GrayScale. This frustration is waiting for the SEC to confirm Paul Atkins, Chairman of Pro Crypto, and his appointment has not yet been completed.
The SEC postpones the staying approval for Ethereum ETF.
On February 14, 2025, NYSE Arca, Inc. submitted a change of rules proposed in the SEC and made a list and trading rules of GrayScale Ethereum Trust ETF and GrayScale Ethereum Mini Trust ETF.
The proposal was announced on March 3, 2025 for public opinion. In accordance with the Securities Trade Act in 1934, the SEC must take such action. proposal Within 45 days, this period can be extended as a proper cause.
The first deadline for the SEC’s decision was April 17, 2025, but the committee extended this period to June 1, 2025, allowing thorough evaluation of the proposal.
Fox journalist Eleanor is afraid of parallel movements Reported The SEC also delays the decision on whether WISDOMTREE and VANECK will allow them to perform in -kind creations and repayment of Bitcoin and Etherum Spot ETF by June 3, 2025.
As reported by Teret, the spot process allows you to exchange basic assets (Gaebicoin and Etherrium) directly rather than converting the SEC to the previous mandatory cash under the leadership of the Gary Gensler.
A new era of encryption?
The arrival delay of Atkins in the SEC is due to the procedural steps that are partially necessary. President Trump’s approval And official oath. This sign is expected to happen soon, but it has left the institution as a conversion state, affecting the future of encryption regulations.
However, these changes in the regulatory approach are the potential turning points of the cryptocurrency industry. According to Gensler’s term, the SEC was criticized for being strict. A lot of execution We interrupted innovation toward Cryptocurrency and created uncertainty for many market participants.
On the contrary, the arrival of Atkins, known as his professional crypto perspective, can expect a new era of more favorable regulatory conditions.
Atkins’ position can open a way for the approval of numerous Altcoin ETFs submitted by various asset managers, aiming for a wide range of exposure to cryptocurrency such as XRP, Cardano and Solana.
ETH, the second largest Cryptocurrency in the market, rose 6% weeks to $ 1,630 on Monday. In a longer time, the token still fell 15% even after being sold in February and March. ETH It falls to $ 1,380.
DALL-E’s main image, TradingView.com chart
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