SEC Postpones Decisions on Spot Crypto ETF Features Until June
The SEC has delayed decisions on key features for spot crypto ETFs, affecting several funds.
- The SEC postponed a decision on in-kind redemptions for WisdomTree’s Bitcoin Fund (BTCW) and VanEck's Bitcoin (BITB) and Ethereum Funds (ETHW).
- A deadline extension was also applied to Grayscale’s proposal for staking its Ethereum Trust (ETHE) and Mini Ethereum Trust (ETH).
- Cboe submitted amended filings in March for Fidelity Ethereum Fund (FETH) and Franklin Ethereum ETF (EZET).
- Staking has not been previously allowed in spot ether ETFs by the SEC.
- New SEC Chair Paul Atkins' appointment may influence future decisions.
- Other jurisdictions like Hong Kong and Canada have approved staking for ETFs without impacting SEC's timeline.
- The SEC's deadlines are June 3 for in-kind redemptions and June 1 for Grayscale’s staking proposal.