Crypto currency The markets did not care about yesterday’s ETF news, and the Bloomberg expert just gave the bad news. The crypto currency basket made by Grayscale was approved yesterday to transform the Trress to ETF. Today, ETF expert James Seyffart says that SEC has given up for now because of the letter added to the file.
Crypto coins last minute
Yesterday, Grayscale was given a conversion approval for ETF for Crypto currency TRUM, which was launched a long time ago. This fund would be accepted from the first Altcoin ETFs because it was around 8 %of the island, XRP and surpassed. ISLAND And XRP It excited investors as the first ETF product for. However, James Seyffart just gave the bad news.
He approved the SEC ETF but did not allow transformation. So we can talk about a temporary abandonment. ETF will not be broadcast, at least for now. Yesterday, the news that FOX News was worked on a standard for crypto currency tokens fell on the agenda. However, on the same day, the SEC’s GDLC approval was said to be confirmed because “dominant assets (90%+) ETF and BTC are already approved”.
“Grayscale He received permission to convert GDLC to ETF yesterday. However, in a letter attached to this permission, the conversion process is currently suspended.
You can find the letter on the SEC website. We have a few theories about this.
First Scenario SEC, ETF He does not want anything to be released within the scope of the 19b-4 process without forming an official approval or frame for crypto assets in the package. We have written many articles about this potential framework. However, the last date of GDLC was July 2, and he approved it because he did not want to reject the sec. But he froze the transformation because he was not ready for the launch for any reason.
The second scenario is that SEC is something that GDLC wants to work on in a certain aspect (such as its structure).
19B-4 approval order came from Trading & Markets section. Perhaps another episode is not yet ready to allow this transformation. ”
So Tröst will not turn into ETF yet, but this will happen. We don’t know when it will only happen and when the Sec of SEC will withdraw this “waiting” order.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
