21 May 2025, 06:13

SEC delays decision on Ether staking and XRP ETFs, as analysts expected

SEC delays decision on Ether staking and XRP ETFs, as analysts expected $ETH #Ether $XRP #XRP

21 May 2025, 06:13

SEC delays decision on Ether staking and XRP ETFs, as analysts expected

The US Securities and Exchange Commission has delayed its decision on Bitwise’s application to add staking to its Ether exchange-traded fund and on Grayscale’s XRP ETF bid, which analysts had expected. The SEC said on May 20 that it needed to extend its decision on Bitwise’s application by 45 days to “consider the proposed rule change and the issues raised therein.” The agency needed to either decide or punt its decision by May 22. The agency also delayed deciding on Grayscale’s XRP ( XRP ) tracking ETF and Bitwise’s Solana ( SOL ) tracking fund while it seeks public comments and begins “proceedings to allow for additional analysis” of the proposals to ensure they meet regulatory standards. Bloomberg ETF analyst James Seyffart said on X that both delays were expected as the SEC “typically takes the full time to respond to a 19b-4 filing.” “Almost all of these filings have final due dates in October,” and an early decision would be “out of the norm,” Seyffart added. “No matter how Crypto-friendly this SEC is. There’s no conspiracy here,” he said. Source: James Seyffart Seyffart said delays on other spot crypto ETF bids are also expected, and the SEC is likely to delay deciding on Litecoin ( LTC ) ETFs too. However, he added , "Litecoin is one that has a higher likelihood vs others of getting approved first.” “A bunch of XRP ETPs have dates in [the] next few days. If we’re gonna see early approvals from the SEC on any of these assets, I wouldn’t expect to see them until late June or early July at the absolute earliest. More likely to be in early 4Q,” Seyffart added. SEC dealing with flood of ETF filings Several other crypto ETF applications are approaching SEC deadlines in June. The SEC is supposed to decide on Grayscale’s Polkadot ( DOT ) tracking ETF by June 11 and 21Shares’ Polkadot ETF on June 24, according to an SEC filing. Related: SEC charges Unicoin crypto platform over alleged $100 million fraud The SEC received a raft of altcoin ETF filings in the wake of Donald Trump’s election in November and the following resignation of former SEC Chair Gary Gensler . The industry saw Gensler’s time at the SEC as an era marked by an aggressive regulatory stance toward crypto , with 100 crypto-related regulatory actions during his tenure from 2021 until his resignation on Jan. 20. With Genlser’s departure, the SEC is perceived as far more crypto-friendly, with several firms facing legal action from the regulator having had their cases dismissed, including crypto exchange Gemini on Feb. 26 and crypto trading firm Cumberland DRW on March 4 . Magazine: SEC’s U-turn on crypto leaves key questions unanswered

21 May 2025, 06:06

SEC Delays Decisions on XRP, Dogecoin, and Ethereum ETF Proposals

The post SEC Delays Decisions on XRP, Dogecoin, and Ethereum ETF Proposals appeared first on Coinpedia Fintech News The U.S. SEC has postponed its decisions on several crypto ETF proposals, including 21Shares Core XRP Trust, Grayscale XRP Trust, and Grayscale Dogecoin Trust. The agency is also delaying its decision on Bitwise’s Ethereum ETF with staking. The SEC has called for public comments on these proposals, signaling a longer review process. As interest in crypto ETFs grows, these delays highlight the regulatory caution surrounding digital asset investment products in the U.S.

21 May 2025, 06:05

Tron (TRX) and Justin Sun Crisis in the US Congress: SEC Chairman Paul Atkins Makes a Statement

U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins faces tough questions from Congress just weeks after taking office. Speaking before the House Budget Committee, Atkins was questioned about memecoin projects linked to President Donald Trump and his possible ties to cryptocurrency entrepreneur Justin Sun. Democratic Representative Glenn Ivey drew attention to some events that took place before Trump’s inauguration in January. Ivey brought up the $30 million token purchase by Tron, a company owned by Justin Sun, from decentralized finance firm World Liberty Financial, which said it was inspired by Trump. The SEC later suspended the fraud case against Justin Sun and his companies. This development led to various speculations in the public. On the other hand, a memecoin connected to Trump is currently trading on the market and Trump is preparing to hold a special gala for the first 220 memecoin investors this week. “This situation doesn’t smell good to me, frankly. I hope the SEC looks into this connection,” Ivey said. Atkins, on the other hand, stated that the case against Sun is still “active” and reminded that the SEC does not classify memecoins as securities. Related News: Analyst Warns: “Bitcoin's Record High Has No Meaning, Focus on This Level Instead” Atkins, who was appointed by Trump, said that the institution had entered a “new era” after his predecessor Gary Gensler took a “hostile” stance against the crypto industry. During Gensler’s term, the SEC filed numerous lawsuits against the industry, but some of them were later dropped. In his written statement, Atkins described his plan for crypto regulation as “rulemaking through a notice and comment process.” “My primary goal during my presidency will be to develop a sound regulatory framework for crypto asset markets that operates with clear rules,” he said. “This framework will continue to deter malicious actors who engage in illegal activities while regulating issuance, custody and trading processes.” Republican Representative Chuck Edwards asked whether the SEC’s newly established crypto task force needed additional funding. The task force, established earlier this year by former interim chairman Mark Uyeda and led by Commissioner Hester Peirce, aims to clarify how securities laws apply to crypto by holding roundtables with industry representatives. “I don’t have a definitive opinion,” Atkins said. “The task force is comprised of existing staff and led by Commissioner Peirce, so there is no additional budget request,” he added. *This is not investment advice. Continue Reading: Tron (TRX) and Justin Sun Crisis in the US Congress: SEC Chairman Paul Atkins Makes a Statement

21 May 2025, 06:01

KindlyMD shareholders OK merger with Trump-linked Bitcoin firm

Shareholders of the healthcare services provider KindlyMD, Inc have approved a proposed merger with Bitcoin holding company Nakamoto Holdings, founded by US President Donald Trump’s crypto adviser, David Bailey. KindlyMD and Nakamoto Holdings, a newly formed company that focuses on creating a network of Bitcoin-related entities, will both file information statements with the Securities and Exchange Commission, KindlyMD said in a May 20 statement . The merger is expected to take place 20 days after both companies have shared the information statement with KindlyMD’s shareholders, with the transaction expected to be finalized in the third quarter of 2025. Google Finance shows shares in KindlyMD (KDLY) closed the May 20 trading session up 9% at $15.22 and gained another 4.8% after the bell as the announcement of the approved merger came after the trading session ended. KDLY is up over 979% so far this year. Shares of KindlyMD were up 4.8% after-hours on news that shareholders approved a merger with Nakamoto Holdings. Source: Google Finance . The companies first announced the merger on May 12, saying the merged entity will use equity, debt, and other offerings to develop a slew of Bitcoin-native companies. Additionally, the company will also bolster its treasury by accumulating Bitcoin ( BTC ). Companies continue to increase their Bitcoin holdings A growing number of public companies have been adding Bitcoin to their balance sheets and have outpaced retail investors and exchange-traded funds, according to Bitcoin investment firm River. Vivek Ramaswamy’s Strive said on May 20 that it intends to purchase Bitcoin claims tied to the defunct crypto exchange Mt. Gox and would look to buy 75,000 BTC at a discounted price. Related: Bitcoin open interest hits record high as bulls stampede toward new BTC price highs Strategy, formerly MicroStrategy, said on May 19 that it purchased 7,390 BTC for $765 million last week. The company’s top brass were also hit with a class-action lawsuit alleging they had failed to accurately represent the nature of the company’s Bitcoin investments. Earlier this month, stablecoin issuer Tether bought nearly $459 million worth of Bitcoin for Twenty One Capital, a Bitcoin investment firm it backed that is awaiting the completion of a Special Purpose Acquisition Company (SPAC) merger with Cantor Equity Partners. Magazine: Arthur Hayes $1M Bitcoin tip, altcoins ‘powerful rally’ looms

21 May 2025, 05:59

Texas Advances Senate Bill 21, Paving the Way for a Potential State Bitcoin Reserve Initiative

Texas lawmakers are paving the way for a significant shift in cryptocurrency legislation with the approval of Senate Bill 21, a measure designed to establish a state Bitcoin reserve. This