The SEC delays verdicts for ETFs based on Dogecoin, Hedera and Avalanche

As well as in other similar cases, the SEC chose to delay until the last term the verdicts for these products proposed by Bitwise, Grayscale and Vaneck.

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• SEC Applauds Decision for ETFs based on Doge, Hbar and Avax.
• These funds were proposed by Bitwise, Grayscale and Vaneck, respectively.
• The postponement occurs amid indications of advances towards the approval of the ETF Solana.
  
• There are more than 70 applications waiting for the SEC response.

The United States Stock Exchange and Securities Commission (SEC) has delayed verdicts on several requests for funds quoted in the stock market (ETF) related to coins such as Dogecoin, Hedera and Avalanche.

According to communications published by the SEC, reviewed by The block, The products Bitwise Dogecoin ETF, Grayscale Hedera Trust and Vaneck Avalanche ETF They must wait for another additional period before receiving official verdict, in which the agency must indicate whether it approves or rejects its launch in the US market.

As in other cases, the Federal Agency claimed that the delay is because they require more time to analyze the applications in question. They also indicated that periods of consultation are opened, precisely for the interested public to send their comments and recommendations for the decision they must make in the coming months.

Given the history that the S has had with this type of products, this new delay falls within what is expected by analysts and enthusiasts. Let us keep in mind that before being officially approved, the verdicts for the ETFs Bitcoin and Ethereum that operate from 2024 in the market they were postponed to last term before starting commercial operations.

Advances around ETFs Solarium

The postponement occurs just two days after it was reported that the SEC requested ETF emitters Solarium The update of its forms S-1, A key step that usually indicates that approval could be closer.

According to Eric Balchunas, an analyst at Bloomberg, The approval of an ETF Solarium It could be completed within two to four months, so at the latest, these products could reach the market in October of this year.

As we indicated in a previous report, the flagness of catchunas also occurs just days after several emitters asked the SEC to resume the approval of these products “By registration order“, Since giving positive verdict to all applicants the same day mitigates free competition among administrators to bring such funds to the market.

The ETF market expands

While verdicts for the aforementioned products are postponed, The SEC accumulates more than 70 applications for investment funds related to cryptocurrencies. Therefore, most likely this year this market will expand significantly, to the extent that the agency approves said investment funds.

Just as there are applications for ETF crypt, there are also proposals to enable derivatives trade, the creation of compound funds, as well as rule changes mainly to enable staking in products linked to Ethereum.

At the moment, it only remains to wait and see which answers will give each of these proposed products.

Article written by a content editor. Edited by Angel Di Matteo / Diariobitcoin

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