- SEC delays Bitwise and CoinShares XRP ETF decisions.
- CoinShares Litecoin ETF review extended by the SEC.
- Canary Capital’s TRX ETF filing was acknowledged by the SEC.
The Securities and Exchange Commission is taking more time before ruling on several exchange-traded funds based on cryptocurrencies. Lawmakers are reviewing more paperwork submitted by Bitwise, CoinShares, and others for ETFs tied to XRP and Litecoin. In addition, the SEC has acknowledged a payment from Canary Capital Group to a newly formed TRX fund.
XRP and Litecoin ETF Decisions Delayed
The SEC announced on May 22, 2025, that it wants to extend the review period for the Bitwise XRP ETF. The application, made according to Cboe BZX Exchange rules, is for listing the company’s shares for trading. Members of the public have 21 days after the proposal appears in the Federal Register to submit their comments. Individuals must submit their rebuttal comments within thirty-five days after they publish a study.
A similar glitch causes delays for the CoinShares XRP ETF. Nasdaq Stock Market has submitted a proposal to list shares under its own rules. Within three weeks after publishing, the SEC asked for public comments. The Federal Register notice publishes the deadline for submitting comments in response to rebuttals, which is within 35 days.
Decisions on the CoinShares Litecoin Exchange-Traded Fund (ETF) have been delayed. The company filed on May 22, 2025. A comment period was set to finish on the 18th of March 2025 by the SEC. The agency has taken up the proposal to list and trade shares under the specific rule on the Nasdaq.
Fidelity faced difficulties with its in-kind Bitcoin filing. Stock listing and trading regulations were proposed to be changed by the Cboe BZX Exchange. The SEC requested that companies report their results by March 18, 2025.
The SEC continues to closely review and regulate digital assets, so it is taking a cautious stance. On January 21, 2025, Mark T. Uyeda announced that the SEC Crypto Task Force would be forming. Working on clear crypto regulations, the team targets registration and disclosure support for crypto asset users.
There have been frequent swings in the value of different digital assets such as XRP. During its low point in November 2017 at $0.001091, TRX’s peak value in December 2024 was $0.4407.According to the CMC website, TRX traded for $0.2712 on May 24, 2025.
Canary Capital’s TRX Fund Gains SEC Acknowledgment
The SEC recognized a request from Canary Capital Group for the listing of a staked TRX ETF on May 22, 2025. The proposal to list and trade shares under BZX Rule 14.11(e)(4) has been submitted to the Cboe BZX Exchange. The Federal Register will publish the notice, and interested parties have twenty-one days to submit comments on it.
Canary Capital Group, a Delaware LLC formed on September 12, 2024, sponsors the fund. CSC Delaware Trust Company took on the role of trustee for the Trust, established on April 8, 2025, under the terms of the Trust Agreement. The fund will sell shares that give people a part of the Trust.
Recently, leaders from the Department of Justice and FinCEN have been watching the Bitcoin industry more closely. On January 23, 2025, President Trump used an Executive Order to boost American leadership in digital financial technology.
The SEC has made it known that digital assets are partly regulated by existing laws. Many agencies have alerted people to the dangers associated with digital assets.Some individuals have launched legal cases to prove that regulators must classify a variety of assets as securities.
