Loraz
@loraz
The SEC has delayed its decision on separate proposed ETFs tracking, respectively XRP and Dogecoin. A number of top asset managers are trying to launch altcoin ETFs following the success of Bitcoin funds last year. The SEC on Monday delayed its decision on multiple Solana-tracking funds. The U.S. Securities and Exchange Commission has delayed its decisions on rules changes that would allow exchange-traded funds proposed by 21Shares tracking XRP and Grayscale based on the price of Dogecoin to begin trading according to filings on Tuesday. "The Commission is instituting proceedings to allow for additional analysis" that will help determine if the ETFs address securities exchanges rules "designed to prevent fraudulent and manipulative acts and practices' and “to protect investors,'" the filings said. Cboe and NYSE, where the 21Shares and Grayscale funds would be traded, respectively, submitted their requests for rules changes earlier this year.
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Loraz
@loraz
The delays do not foreshadow whether the SEC will approve the funds, the filing noted.
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