The US Securities and Exchange Commission (SEC) has deferred its decision on Bitwise's proposal to add staking into its Ether ETF, as well as on Grayscale's XRP ETF application.
On May 20, the SEC announced that it would extend its review period for Bitwise's application by 45 days to consider the proposed rule change and the issues raised. The agency had to decide by May 22 whether to accept or postpone the application.
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In addition, the SEC delayed decisions on Grayscale's XRP ETF and Bitwise's Solana fund, seeking public comment and initiating proceedings to allow for additional analysis to ensure the proposals comply with regulatory standards.
Bloomberg ETF analyst James Seyffart noted in X that these delays were to be expected, as the SEC "typically takes the full time to respond to a 19b-4 filing."