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SEC Delays Grayscale’s New Basket ETF Despite Previous Approval
SEC Delays Grayscale’s New Basket ETF Despite Previous Approval
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BTCCSquare news:
The SEC has unexpectedly paused Grayscale’s newly approved basket ETF, which includes five leading altcoins. The delay, framed as a review of delegated action, leaves the crypto market in suspense. Grayscale, a pioneer in crypto ETFs, now faces an indefinite postponement—though this isn’t a rejection, it underscores the regulatory unpredictability haunting the sector.
Analysts scramble to interpret the SEC’s reversal, especially after its recent pro-crypto posture. Theories abound, but clarity remains elusive. The Commission’s letter to the NYSE cites Rule 431(e), freezing the July 2025 launch order until further notice. For now, the crypto community watches and waits.
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