Key Takeaways
- New guidance from the SEC’s Division of Corporation Finance could quietly speed up the review process for ETF issuers, including Bitwise.
- Bitwise is a leading candidate with its spot XRP ETF application under review.
Bitwise’s XRP ETF (XRP) could hit the US market soon after the debut of the Canary XRP ETF (XRPC), thanks to new SEC post-shutdown guidance that allows issuers to speed up the effectiveness of pending registration statements, Bloomberg ETF analyst Eric Balchunas revealed Friday.
The updated regulatory guidance aims to clarify how issuers can manage filing procedures during the post-shutdown period, which may shorten review timelines for certain exchange-traded fund applications that were delayed by the backlog.
The SEC’s latest FAQs explain that issuers who filed or amended registration statements without a delayed amendment during the shutdown may request acceleration once the Division has reopened.
Bitwise has announced a competitive fee structure for its XRP-based product, proposing a low 0.34% management fee to attract investors.
Source: https://cryptobriefing.com/sec-guidance-expedites-crypto-etfs-bitwise-xrp-next/
