美國SEC已推遲了對試圖跟踪XRP和Dogecoin的三個基於斑點的ETF應用程序的決定。

該請求旨在幫助證券監管機構就與ETF申請有關的政策和法律問題收集公眾意見。

The U.S. Securities and Exchange Commission (SEC) has pushed back its verdict on three spot-based exchange-traded fund (ETF) applications seeking to track XRP and Dogecoin.

美國證券交易委員會（SEC）推遲了對旨在跟踪XRP和Dogecoin的三個基於現貨的交易所基金（ETF）申請的判決。

The proposed funds affected include the filings of Grayscale, 21Shares, and the Grayscale Dogecoin Trust. According to recent filings on its website, the SEC has commenced proceedings on these ETFs and has requested public comments from interested parties.

擬議的受影響的資金包括灰度，21shares和灰花dogecoin信託的備案。根據其網站上的最新文件，SEC已開始對這些ETF進行訴訟，並要求對感興趣的各方發表公開評論。

Similarly, the SEC has postponed its ruling on an amendment that would enable the Bitwise Ethereum ETF to engage in staking. This amendment aims to expand investors' exposure to the Bitwise Ethereum ETF by encompassing staking yields.

同樣，SEC也將其裁定推遲了一項修正案，該修正案將使位於以太坊ETF參與靜止狀態。這項修正案旨在通過涵蓋放電產量來擴大投資者對位於以太坊ETF的敞口。

SEC Invites Public Comments

SEC邀請公眾評論

This request aims to aid the securities regulator in collecting public input on the policy and legal concerns related to ETF filings.

該請求旨在幫助證券監管機構收集有關與ETF申請有關的政策和法律問題的公眾意見。

In the meantime, the commission clarified that it has not yet reached any conclusions regarding the legal and policy concerns. However, it signaled that the proposals only raised substantive questions that deserve broader input from the public.

同時，委員會澄清說，它尚未就法律和政策問題得出任何結論。但是，它表明這些提議只提出了應得的實質性問題，這些問題應得到公眾的廣泛投入。

Notably, the comment period will run for 21 days from the publication of the recent filings in the Federal Register. The period for rebuttal comments is expected to linger for 35 days after publication in the Federal Register.

值得注意的是，該評論期將於聯邦公報最近的備案發布後持續21天。反駁評論的期限預計將在聯邦公報上發表後持續35天。

Not New

並不新

It is noteworthy that the SEC’s latest action does not come as a surprise to crypto enthusiasts. Over the past few months, the securities regulator has been postponing its decision on multiple crypto ETF proposals, including those designed to track XRP and Dogecoin performance.

值得注意的是，SEC的最新動作對加密助人的愛好者來說並不令人驚訝。在過去的幾個月中，證券監管機構一直在推遲其對多個加密ETF提案的決定，包括旨在跟踪XRP和Dogecoin績效的建議。

In March, the SEC extended the review period for various crypto ETF applications from Grayscale, 21Shares, VanEck, and Canary. At the time, the SEC extended the decision deadline for Grayscale’s XRP Trust ETF application to May 21.

3月，SEC延長了來自Grayscale，21Shares，Vaneck和Canary的各種加密ETF應用程序的審核期。當時，SEC將Grayscale XRP Trust ETF應用程序的決策截止日期延長至5月21日。

It has now extended the review period once again to determine whether the proposed products have the necessary safeguards to prevent fraud and market manipulation, as mandated by Section 6(b)(5) of the Securities Exchange Act.

現在，它再次延長了審核期，以確定擬議的產品是否具有必要的保障措施，以防止欺詐和市場操縱，按照《證券交易法》第6（b）（5）條規定。

SEC to Use Full Review Period Before Issuing Its Decision

SEC在發布決定之前使用完整的審查期

Meanwhile, James Seyffart, an ETF expert at Bloomberg Intelligence, said it is normal for the SEC to delay its decisions on spot crypto ETFs. He emphasized that while the SEC is expected to rule on several XRP ETF applications in the coming days, the commission may choose to extend the deadline.

同時，彭博情報公司ETF專家James Seyffart表示，SEC在現場加密ETF上推遲其決策是正常的。他強調，儘管預計SEC將在未來幾天對幾個XRP ETF申請進行裁決，但委員會可能會選擇延長截止日期。

He suggested that the SEC will not approve any spot crypto ETFs in June-July, adding that these products will likely launch in early Q4 2025.

他建議SEC不會在6月至7月批准任何現場加密ETF，並補充說，這些產品可能會在2025年初推出。

If we're gonna see early approvals from the SEC on any of these assets — i wouldn't expect to see them until late June or early July at absolute earliest. More likely to be in early 4Q.

如果我們要對SEC的任何資產獲得早期批准，那麼直到6月下旬或7月初，我絕對不會看到它們。更有可能在4Q早期。

— James Seyffart (@JSeyffart) May 20, 2025

- 詹姆斯·塞弗特（James Seyffart）（@jseyffart）2025年5月20日

In a follow-up comment, Seyffart asserted that the SEC usually takes the full 240 days to review ETF applications. Hence, he expects the SEC to use the whole comment period before issuing its final decision.

Seyffart在後續評論中斷言，SEC通常需要整整240天才能審查ETF申請。因此，他希望SEC在發布最終決定之前使用整個評論期。

Further, Seyffart noted that the final due date for most crypto ETF applications, including XRP, is in October, which aligns with his previous mid-October deadline for XRP.

此外，Seyffart指出，包括XRP在內的大多數加密ETF申請的最後截止日期是在10月，該日期與他以前的XRP截止日期相吻合。

Meanwhile, Nate Geraci, president of the ETF Store Inc., seemed unconcerned about the recent delays. He believes the commission will still approve all the proposed ETFs for altcoins, including XRP and Dogecoin.

同時，ETF Store Inc.總裁Nate Geraci似乎對最近的延誤並不關心。他認為，委員會仍將批准包括XRP和Dogecoin在內的AltCoins的所有擬議ETF。