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Cryptocurrency exchange-traded fund (ETF) changes, such as in-kind redemptions and staking permissions for Ethereum (Ethereum) products, is likely to happen “early” under the new administration of the US Securities and Exchange Commission (SEC).
SEC Commissioner Hester Pierce shared during interview For coins, these matters may come up for regulatory review once Paul Atkins takes over as chairman. She added:
“I’m open to reconsidering both genres [redemptions] And thinking again about how to allow people to design products in a way that is more beneficial to investors in those products.
Pierce, known as the “Mother of Cryptocurrencies” due to her pro-crypto stance, said it is “easier” to approve such changes when a majority of commissioners want “things to move forward.”
Bloomberg is a senior ETF analyst Eric Balchunas Pearce’s brief remarks were described as “great“,” Show her interest In making publicly traded cryptocurrency products more useful to investors.
Discussions may occur regarding these changes, Balchunas said, but the most important thing is that the “SEC gods” are interested in them. As a result, the regulatory body will work to establish the legal basis for the improvements.
Moreover, he reiterated his optimism about the new administration of the SEC, highlighting his position Latest prediction A “wave” of crypto ETFs is a likely scenario for next year.
Accelerated development
Balchunas and fellow Bloomberg ETF analyst James Seyphart Expect new approvals for cryptocurrency ETFs to take place next year. However, developments are occurring at an accelerating pace.
The SEC recently approved hybrid ETFs offered by Hashdex and Franklin Templeton, which will track Bitcoin (Bitcoin) and ETH simultaneously.
Although this happened earlier than analysts expected, the green light is in line with their expectations, which expected these products to be the first to ship to market.
According to the prediction, the next ETFs to follow are Litecoin (ltc) and Hadera (HBAR). Meanwhile Solana (Sol) and XRP Funds may have to wait until their regulatory status becomes clearer.
