Despite the recent thanks to the Securities and Exchange Commission (SEC) on several requests for exchangeers in exchange for crypto (ETF), the agency is unlikely to make decisions approving these products until its management is set.
“I would have been very very surprised if they approved one of these deposits before [Paul] Atkins was confirmed during their first deadlines, ”said James Seyffart, ETF analyst at Bloomberg Intelligence. “We assume that anything that can be pushed until ATKINS is officially dry, will be rejected.”
A person familiar with the case told Coindesk that she agreed with this point of view. “This administration has shown an ability to break the previous one, so I assume that it is in the area of the possibility of seeing early approval. I would be surprised, but you never know, “said the person.
President Donald Trump appointed the former SEC commissioner and current PDG of Patomak Global Partners Paul Atkins as his choice to lead the agency. The former president of the SEC, Gary Gensler, resigned from the position in January before the inauguration of Trump. However, no hearing has been provided for the confirmation of Atkins.
The agency delayed decisions on several ETF Crypto-Spot Tuesday, notably XRP, Solana (Sol), Dogecoin (Doge) and Litecoin (LTC), a decision which, although not completely expected, was not shocking either, according to Seyffart.
It took years of issuers to receive the Green SEC LEDs on the launch of Bitcoin (BTC) and Ether (ETH), even despite the fact that there had been a well -established regulated market for both assets. Although it is not a legal requirement to launch ETF on the basis of an asset, it was an important criterion for the dry in the launch of the ETF linked to the BTC and the ETH.
None of the currently exceptional ETF applications meets these criteria. Nevertheless, Seyffart and his colleagues see odds for approval for several ETF Altcoin by the end of the year at 65% or more. Although some of the applications that must be scheduled in May and June are more likely to see approval, it all depends on the confirmation of the new president.
In his examinations of Bitcoin and ETF applications at the previous point, the SEC generally took advantage of the procedural delays that he is authorized to use to extend the deadlines for almost 240 days – the most time that he must approve or reject a request.
“Theoretically, we should have a chair by then, but I would not necessarily say that it is guaranteed that these things will be approved immediately either. Certainly more possible than the deadline for March and April for these various stiffeners of Spot cryptography, “said Seyffart.
