#How Could Recent SEC Guidance Impact ETF Issuers?
The recent update from the SEC’s Division of Corporation Finance has the potential to accelerate the review process for Exchange Traded Fund issuers, including Bitwise. This could mean significant developments for those waiting on ETF applications like Bitwise’s spot XRP ETF, which is currently in the review pipeline.
Bitwise stands positioned as a strong candidate in this arena. Analysts have indicated that the approval of its XRP ETF could coincide closely with the launch of the Canary XRP ETF. This situation has become more feasible following the SEC's recent guidance, which enables issuers to expedite the effectiveness of pending registration statements.
The SEC's updated guidelines provide clarity on the management of filing procedures during the current post-shutdown phase. By streamlining these processes, issuers may experience a reduction in review times for ETF applications that previously faced delays due to regulatory backlogs. Additionally, the SEC's new FAQs highlight that issuers who submitted or modified their registration statements without a delayed amendment during the shutdown can now request acceleration as the Division reopens.
In a competitive landscape, Bitwise has unveiled an attractive fee structure for its XRP-focused product, proposing a management fee of just 0.34%. This low fee could make the ETF more appealing to investors, especially in a market that values cost-effectiveness and transparency.
For investors and stakeholders, these developments signal an important shift in the regulatory landscape, potentially leading to new opportunities in cryptocurrency-linked exchange-traded funds. Keeping a close watch on how these guidelines will unfold will be crucial as they can shape the future of ETFs in the cryptocurrency sector.