New batches of cryptocurrency exchange trading funds (ETFs) from Rex and Osprey have cleared the Securities and Exchange Commission (SEC) 75-day review window and are expected to open trading by Friday, according to Bloomberg Intelligence Analyst Eric Barcunas.
“Post effect basically means it’s being released,” Bulknas told Cointelgraf in a phone interview, referring to the lineup, including the Rex-Sosprey Bonk ETF, Trump ETF, Bitcoin ETF, XRP ETF and DOGE ETF.
Cointelegraph previously reported that Doge ETF is scheduled to debut on Thursday, with a timing determined by its structure under the 1940 Investment Companies Act. Unlike products submitted under the Securities Act of 1933, it was used to approve last year’s Spot Bitcoin (BTC) ETF.
“This is a ’40 act and we’re not investing entirely directly in the place,” Balknath said. “Unless the SEC says nothing, it can be released 75 days after submission.”
The funds will be set on the list this week unless the SEC challenges it last minute, Balchunas said.
Most US ETFs are organized under the ’40 Act and act as open-ended investment companies that can hold securities such as futures-based funds. In contrast, the ’33 ACT ETF is usually used for physically backed products, including spot bitcoin and gold products.
Bloomberg ETF analyst James Seifert says 92 crypto exchange sales products are currently in the US pipeline. sauce: James Safert
Related: Dogecoin ETF is pushing the crypto industry to embrace speculation
SEC delays decisions with other ETFs
While Rex-Sosprey’s funds continue to be released this week, the SEC has delayed the verdict of several well-known ETF applications from Franklin Templeton, BlackRock and Fidelity.
In a notice published Wednesday, the SEC said additional time was needed to evaluate proposals that included allowing ether (ETH) staking within the funds. The agency has also postponed decisions regarding the applications of XRP (XRP) and Solana (Sol) ETFs.
Earlier this week, the SEC pushed back Bitwise’s proposed decision on Dogecoin ETF and Grayscale’s Hedera ETF, setting a new deadline of November 12th, as reported by Cointelegraph.
sauce: Cointelegraph
The delay occurs approximately one month after the SEC reveals that certain liquid staking activities are outside the scope of securities law and therefore exceed monitoring. In May, the agency also concluded that the blockchain of proofs does not constitute a security in itself.
Related: How to legally wager Crypto in 2025 under new rules in the SEC
