SEC delays decisions on staking and in-kind redemptions for crypto ETFs to early June

The US Securities and Exchange Commission (SEC) has delayed decisions connected 2 projected amendments related to crypto exchange-traded funds (ETFs), extending reappraisal periods for some staking and in-kind redemption models into June 2025. 

The caller timelines use to Grayscale’s Ethereum (ETH) staking filing and VanEck filings for in-kind redemptions connected Bitcoin (BTC) and Ether ETFs.

Decision delayed

On April 14, the SEC issued a announcement designating June 1, 2025, arsenic the caller deadline to find whether to approve, disapprove, oregon initiate proceedings connected the New York Stock Exchange (NYSE) petition implicit Grayscale’s ETF. 

The connection would let the Grayscale Ethereum Trust ETF (ETHE) and the Grayscale Ethereum Mini Trust ETF (ETH) to involvement a information of the ETH held successful custody. 

The speech initially filed the amendment connected Feb. 14, and it was published successful the Federal Register connected March 3. It acceptable an archetypal 45-day determination deadline for April 17. 

The Commission extended the reappraisal play nether Section 19(b)(2) of the Securities Exchange Act of 1934, citing the request for much clip to measure the regularisation alteration and associated issues.

In-kind redemptions

On the aforesaid day, the SEC besides postponed its determination connected a abstracted connection from Cboe BZX Exchange regarding in-kind creations and redemptions for the VanEck Bitcoin Trust (HODL) and VanEck Ethereum Trust (ETHV). 

The amendment, filed connected Feb. 19 and published connected March 5, would revise the presumption nether which shares of the trusts tin beryllium created and redeemed utilizing integer assets alternatively than cash.

The archetypal 45-day reappraisal play was acceptable to expire connected April 19, but the Commission has extended it to June 3 to let for further consideration.

According to national filings, the Commission has not yet received nationalist comments connected either proposal.

The June deadlines present supply an extended model for interior appraisal oregon the imaginable initiation of proceedings to further measure the proposals’ compliance with applicable securities laws.

The station SEC delays decisions connected staking and in-kind redemptions for crypto ETFs to aboriginal June appeared archetypal connected CryptoSlate.