SEC Delays iShares and Grayscale Crypto ETF Rulings

DJ Shaw

Wed, May 14, 2025, 2:45 PM 2 min read

The Securities and Exchange Commission announced Tuesday it would hold decisions connected 3 cryptocurrency ETFs, including the iShares Bitcoin Trust (IBIT), pushing the timeline for imaginable approvals into the 2nd fractional of 2025.

According to SEC filings released May 13, the regulator opened ceremonial review processes to measure Nasdaq's projected regularisation alteration that would let in-kind transfers for IBIT. Similar reviews were announced for NYSE Arca's proposals to database and commercialized shares of the Grayscale Litecoin Trust and Grayscale Solana Trust.

The delays travel arsenic the manufacture awaits the interaction of recently confirmed SEC Chairman Paul Atkins, who has shown a much accommodative attack to integer assets than his predecessor. These delays suggest large crypto decisions volition apt beryllium concentrated successful the second portion of 2025, giving the caller enactment clip to found its regulatory framework.

These latest proceedings absorption connected expanding cryptocurrency concern options. The iShares Bitcoin connection would let the spot to judge existent Bitcoin alternatively of currency during the instauration process, according to the SEC filing. Meanwhile, the Grayscale proposals would question to make the archetypal U.S.-listed exchange-traded products for the Litecoin and Solana cryptocurrencies.

The delayed decisions bespeak a transitional play astatine the SEC. Atkins, confirmed by the Senate successful April arsenic the caller SEC chairman, has been vocal astir his crypto-friendly stance. In his archetypal nationalist remarks arsenic chairman, Atkins stated, "Market participants engaging successful this exertion merit wide regulatory rules of the road," according to Reuters, marking a displacement from the agency's erstwhile approach.

During his confirmation process, Atkins pledged to found a broad regulatory model for integer assets that would some foster innovation and support investors, arsenic reported by Axios. This contrasts with erstwhile Chairman Gary Gensler's enforcement-heavy attack that targeted galore crypto companies with lawsuits.

The bureau has already started to displacement its regulatory stance nether the Trump administration. In January, the SEC established a caller crypto task unit led by Commissioner Hester Peirce, who has agelong advocated for clearer rules governing integer assets, according to the SEC. The task unit aims to make a coherent regulatory model alternatively than relying connected enforcement actions.

"The Commission is opening a ceremonial reappraisal process to find whether the projected regularisation alteration should beryllium approved oregon disapproved," the SEC noted successful each of the 3 filings. The bureau encouraged funny parties to supply written submissions regarding the proposals.