On January 12, the US Securities and Exchange Commission (SEC) extended its review period for two proposed crypto exchange-traded funds (ETFs).
The applications affected are the T. Rowe Price Active Crypto ETF and the Canary Pudgy Penguins (PENGU) ETF. Both postings appeared in the Federal Register.
The proposed PENGU ETF would allow Cboe BZX to list an ETF based on Penguins tokens and non-fungible tokens (NFTs) that relate to the Pudgy Penguins digital collection.
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The T. Rowe Price fund offers an actively managed crypto investment product on the NYSE Arca exchange and plans to cover a range of assets beyond just Bitcoin
The SEC’s deadlines have been extended by up to 45 days using standard procedures under the 19b-4 process. This does not mean approval or denial, but additional time for a deeper examination of topics such as asset safety for buyers, the trading environment, and the possibility of wrongdoing or price distortion.
Additionally, there is another development involving the Grayscale CoinDesk Crypto 5 ETF. The SEC began a comment period on the plan to list exchange-traded options for this ETF.
The fund holds a basket of five cryptocurrencies, including Bitcoin, Ethereum, XRP
People and firms can submit their thoughts on whether offering these options would meet the requirements designed to support organized and honest trading and to stop abuse.
Recently, Grayscale began distributing the Ethereum staking ETF in cash. What did the company say? Read the full story.
