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From Monday to Friday, the cryptocurrency markets remained relatively calm, but significant developments occurred on the SEC front. We had previously announced delays concerning ETH ETF applications. Now, there are new developments for two different ETF applications.
The SEC has postponed its decision on the Spot Ethereum ETF application made by VanEck. A few hours ago, we discussed Grayscale’s concerns about the centralization risk and market speculation that the transition to PoS could bring for the future of the ETH ETF. Now, the decision for VanEck has also been postponed. The SEC’s choice to delay and set additional review periods instead of outright rejection is a relatively positive situation.
The updates made to their applications by ETF publishers while continuing their discussions with the SEC are even more positive. The file update received during the negotiations is a promising development considering that the final approval date for the joint ETF application of Ark and 21Shares is thought to be January 10th.
This month, the SEC conducted meetings with many ETF applicants, including Fidelity and BlackRock. Enhanced communication imposes the idea that approval is now just a matter of time on investors, while confirming that the negative approach has been broken. The BTC price rose to $41,800 following the news.
Read more: https://en.coin-turk.com/crypto-etf-developments-and-sec-delays/
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