SEC delays PENGU and T. Rowe crypto ETFs as Grayscale seeks options green light

The US Securities and Exchange Commission (SEC) extended its determination deadline connected 2 crypto-related exchange-traded funds (ETFs), portion opening a remark model connected options tied to a 3rd successful 3 abstracted filing decisions released Monday.

In abstracted Federal Register notices, the SEC designated a longer play to see projected regularisation changes that would let the listing of the Canary Pudgy Penguins (PENGU) ETF connected Cboe BZX and the T. Rowe Price Active Crypto ETF connected NYSE Arca.

Both filings autumn nether the SEC’s modular 19b‑4 process, which lets it widen the archetypal determination model by up to 45 days portion it evaluates marketplace structure, capitalist extortion and manipulation concerns.

SEC weighs Canary PENGU and T. Rowe ETFs

Canary’s PENGU ETF seeks vulnerability to the Pudgy Penguins ecosystem, a salient nonfungible token (NFT) collection, making it 1 of the much unconventional crypto‑related ETF proposals presently successful beforehand of the SEC. It is simply a trial of however acold the bureau is consenting to spell successful allowing meme and NFT‑adjacent vulnerability successful an ETF wrapper.

SEC determination connected PENGU ETF. Source: Federal Register

Related: PENGU token loses 20% successful August amid Pudgy Party crippled launch

The T. Rowe Price Active Crypto ETF is an actively managed conveyance that would put successful a diversified handbasket of integer assets beyond Bitcoin (BTC) and Ether (ETH), bringing a accepted communal money marque deeper into multi-asset crypto strategies.

The delays bash not bespeak a last judgment, but amusement that the committee wants much clip to measure products that agelong beyond blue‑chip crypto exposure.​

Grayscale options connection enters remark phase

Alongside the delays, NYSE American filed a projected regularisation alteration to database standardized options connected the Grayscale CoinDesk Crypto 5 ETF, a money tracking an scale of 5 large‑cap integer assets: Bitcoin (BTC), Ethereum (ETH), XRP (XRP), Solana (SOL) and Cardano (ADA).

The filing has entered the nationalist remark phase, wherever marketplace participants tin measurement successful connected whether listing options connected the money is accordant with Exchange Act standards for fair, orderly markets and protections against fraud and manipulation.

If approved, options connected a multi-asset crypto ETF would adhd different furniture of leverage and hedging tools to integer assets, extending a derivatives ecosystem that is mostly centered connected Bitcoin and Ether products.