SEC Delays Decisions on Key Cryptocurrency ETFs Until Late 2025
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The U.S. Securities and Exchange Commission (SEC) has announced delays in deciding the operation of three major cryptocurrency exchange-traded funds (ETFs), including the iShares Bitcoin Trust (IBIT). To this end, filings released on May 13 exposed that the SEC is launching formal review processes to consider proposed rule changes that could expand crypto investment options.
However, the affected proposals include Nasdaq’s request to allow Bitcoin contributions for IBIT and NYSE Arca’s attempts to list Grayscale’s Litecoin and Solana Trusts. Therefore, these decisions are now expected in the second half of 2025. The delays come as the agency adjusts under its new chairman, Paul Atkins, who supports clear rules for digital assets.
Review of Cryptocurrency ETFs Proposals Begins
The SEC is now carefully examining how new ETFs involving cryptocurrency could work. For example, the iShares Bitcoin Trust proposal would let investors contribute actual Bitcoin, instead of only cash, during the creation of ETF shares. This is a big change because most crypto ETFs now only deal with cash. If approved, it could offer investors more flexibility.
Meanwhile, Grayscale has proposed the first-ever U.S.-listed ETFs for Litecoin and Solana. These would allow regular investors to buy shares tied to these digital coins more easily through regular stock exchanges. The SEC’s current review includes 21 days for public comments and 14 more days for any counter-arguments. Final decisions are likely to be made by the third quarter of 2025.
New SEC Leadership Signals Policy Shift
The delays also reflect a shift in the SEC’s attitude toward cryptocurrency. Paul Atkins, confirmed as chairman in April, has a more open stance toward digital assets than former chairman Gary Gensler. Atkins has said that people working in crypto deserve fair and clear rules. He wants to create a proper system to manage digital assets instead of focusing mainly on lawsuits.
Under the new leadership and the Trump administration, the SEC formed a special crypto task force in January. Led by Commissioner Hester Peirce, a known advocate for clearer crypto rules, the group aims to design a full regulatory framework. This suggests the SEC is moving away from punishing companies and toward building a more structured approach for the crypto market.
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