Key Points:
- Following Trump’s victory, issuers have flooded the SEC with spot crypto ETF applications, including niche products like Dogecoin and Trump-themed funds.
- While the SEC’s actions suggest openness to spot crypto ETFs, approval could take months, and the agency has yet to clarify whether certain crypto assets are securities.
According to Bloomberg, the US Securities and Exchange Commission (SEC) is showing signs of a shifting stance on spot crypto ETFs, even as Donald Trump’s pick for SEC Chair, Paul Atkins, awaits congressional confirmation.
Read more: President-elect Trump Is Fueling the New Crypto Wave
SEC Opens Public Comment on Spot Crypto ETFs
The agency recently invited public comments on proposed Solana and Litecoin ETFs from Grayscale, according to official filings released Thursday.
Industry analysts see this as a notable change in approach, as the SEC had previously refrained from acknowledging filings for spot Solana ETFs. A separate request for public input on a Litecoin ETF had already been initiated in January.
Since Trump’s election victory, spot crypto ETF issuers have ramped up filings for new crypto-related investment products, anticipating a more favourable regulatory climate under the new administration. Some proposals include funds tracking alternative tokens such as Dogecoin and even a Trump-themed memecoin.
Earlier this week, Trump Media & Technology Group Corp. filed to trademark several investment products, including three ETFs aligned with the former president’s political priorities.
Regulatory Uncertainty Clouds ETF Approvals
The SEC’s latest move extends beyond Grayscale’s altcoin funds. The regulator also announced Thursday that it is seeking input on whether BlackRock’s iShares Bitcoin Trust ETF should permit in-kind creations and redemptions, a key structural component of ETFs.
While these actions signal potential regulatory shifts, the SEC’s ultimate stance on spot crypto ETFs remains in flux as the industry awaits clearer guidelines from the incoming leadership.
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