Latest news with #JamesSeyffart
Yahoo
26-05-2025
- Business
- Yahoo
Here's When To Expect XRP, Solana, DOGE Spot ETF Approvals, According To This Expert
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Bloomberg Intelligence Senior ETF Analyst James Seyffart has weighed in on when the SEC could approve pending spot cryptocurrency ETF applications. The regulator is battling a full plate with a flood of applications, baggage from the previous administration and efforts to establish market rules. While decisions on spot ETF applications stall, progress is being made elsewhere. Amid improving regulatory conditions and growing institutional interest, anticipation for the approval of pending spot cryptocurrency exchange-traded fund applications is understandably high. Among pending applications are products tied to popular altcoins like XRP, Solana and even the leading memecoin Dogecoin. However, the Securities and Exchange Commission does not appear to be in a hurry to make a decision. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . The SEC pushed back decision deadlines for 21Shares' planned XRP ETF and Grayscale's planned XRP and Dogecoin offerings on Tuesday. Before these, the regulator delayed a decision on Grayscale's planned Solana offering last week. 'SEC delays several decisions today on spot xrp & doge ETFs, along w/ staking in eth ETFs. Nothing to see here IMO. Still think all will be approved,' The ETF Store President Nate Geraci said Tuesday on X. The question on the minds of many is when? According to Bloomberg Intelligence Senior ETF Analyst James Seyffart, approvals for pending spot cryptocurrency ETF applications are likely to come late June or early July at the earliest. But early Q4 is most likely, he said. 'The SEC *typically* takes the full time to respond to a 19b-4 filing,' he said Tuesday on X, referring to the maximum 240-day decision window allotted to applications like these. 'Almost all of these filings have final due dates in October,' he said, adding that early decisions would be 'out of the norm.' Trending: New to crypto? on Coinbase. The SEC likely needs this 240-day window more than ever. With its softening stance on cryptocurrencies, fund managers have gone all out to test the limits of what is possible, from applications for products based on popular altcoins to products based on the memecoins launched by President Donald Trump and first lady Melania Trump. According to a list compiled by Seyffart in April, at least 72 cryptocurrency ETF applications are sitting on the regulator's desk. In addition to this deluge of applications, the regulator is battling to clear up 'the mess' left by years of cryptocurrency regulation through enforcement while trying to work towards building clear guidelines for the market. But while decisions on spot ETF applications stall, progress is being made elsewhere. Teucrium launched a 2x XRP futures ETF in April. On Thursday, Volatility Shares debuted a standard XRP futures product and a 2x variation. Volatility Shares launched similar products for Solana in March. These investment vehicles, which allow traders to speculate on the price of an asset without holding it, have historically been easier for the SEC to approve. JPMorgan analysts predicted in January that XRP ETFs could attract between $4 billion and $8 billion in inflows in the first 12 months, while Solana products could attract between $3 billion and $6 billion. Read Next: A must-have for all crypto enthusiasts: . 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. Image: Shutterstock Send To MSN: 0 This article Here's When To Expect XRP, Solana, DOGE Spot ETF Approvals, According To This Expert originally appeared on
Business Mayor
22-05-2025
- Business
- Business Mayor
Canary Capital pushes for SOL ETF staking – But the SEC ‘isn't ready' yet
Canary Capital amended its SOL ETF filing to include a staking provision. A Bloomberg ETF analyst stated that the regulator's approval was 'unlikely.' Asset manager Canary Capital has applied for a U.S. spot Solana [SOL] ETF (exchange-traded fund) with a staking feature, to increase investor returns if approved. According to the amended S-1 filing with the Securities and Exchange Commission (SEC), the asset manager will collaborate with Marinade Finance as a staking provider. The trust, Canary Marinade Solana ETF, will generate revenue through direct SOL exposure and staking rewards. 'The Trust's investment objective is to seek to provide exposure to the price of SOL held by the Trust… A secondary investment objective is for the Trust to earn additional SOL through the validation of transactions in the SOL network's proof-of-stake (PoS) process.' SEC to punt SOL ETF staking? Although the SEC's decision deadline for Canary Capital's previous SOL ETF application was in early June, the regulator may reject the staking request. When asked whether the agency would approve it in June, Bloomberg ETF analyst James Seyffart stated , 'Unlikely, particularly with staking. SEC isn't ready for staking in the ETF Grantor Trust wrapper … at least not yet.' Despite recent roundtable discussions between the SEC's Crypto Task Force and stakeholders on ETF staking, tokenization, and other issues, recent requests for spot ETH ETF by Bitwise and other issuers have been delayed. However, experts were hopeful that the SEC greenlight on altcoin ETFs may be likely from July or October. That said, SOL's mid-May cool-off was over, and it was ready to extend the Q2 recovery . Both spot CVD (Cumulative Volume Delta) and Open Interest (OI) rates declined from the 15 of May, reflecting a dip in spot market demand and speculative interest in derivative markets. Source: Coinalyze But spot CVD stabilized and slightly rebounded, suggesting spot market bidding was back. But was it enough to crack the $180 overhead hurdle? The $180 level has been a key resistance in 2024 and early 2025, and doubled as the 200-day SMA (Simple Moving Average). Source: SOL/USDT, TradingView Clearing the obstacle would allow bulls to target $220 — A potential +23% gain if hit. Besides, there was relatively low SOL profit-taking, and the market was not overheated per the Glassnode Profitability Map. This could boost the odds of cracking the $180 resistance.
Business Mayor
21-05-2025
- Business
- Business Mayor
XRP and Dogecoin ETF rulings delayed – SEC sets June 17 deadline
SEC punted on XRP and DOGE ETFs until mid-June. XRP's market position was relatively strong, but DOGE was yet to reverse its downtrend. On the 20th of May, the U.S. Securities and Exchange Commission (SEC) delayed a decision on Grayscale's spot Ripple [XRP] and Dogecoin [DOGE] ETF (exchange-traded funds). The regulator asked for additional time to review the applications and solicit public comments until the 17th of June. In April, the agency extended the deadline for similar applications for Bitwise DOGE ETF and Franklin Templeton's XRP ETFs to mid-June. According to Bloomberg's ETF analyst James Seyffart, the delays were expected, underscoring that the earlier approval could happen in late June or early Q4 2025. 'I wouldn't expect to see them until late June or early July at absolute earliest…More likely to be in early 4Q. Almost all of these filings have final due dates in October.' Source: James Seyffart/X Market reactions ETF Stores' Nate Geraci, another ETF specialist, echoed Seyffart's stance and said , 'SEC delays several decisions today on spot XRP & DOGE ETFs, along with staking in ETH ETFs…Nothing to see here IMO.' From a market point of view, most speculators expected the DOGE and ETF approvals to happen by the end of the year, according to a +50% approval chance on Polymarket. For XRP ETF, the odds were at 84% while the expectation for a DOGE ETF greenlight was at 63%. Interestingly, for XRP, the update didn't stir much change in market positioning, especially from the supply angle. Notably, exchange reserves on Binance have dropped from 2.9 billion to 2.8 billion XRP in the past week. This meant eased selling pressure from the exchange. Read More Binance's 2023 roadmap and BNB's reaction: All you need to know On the contrary, the April recovery spiked sell pressure from 2.7B to 2.9B XRP tokens. So, the ETF delay didn't trigger sell pressure from holders at press time. Source: CryptoQuant For DOGE, however, its early May recovery lost some steam. The early May pump was followed by a sharp surge in transfer volume from $500M to over $1 billion. Source: Glassnode Since mid-May, total transfer volume, dropped from over $1B to $560 million. This meant the upward traction eased slightly and was yet to bounce back decisively even after the SEC delay. On the price chart, DOGE's short-term downtrend was still strong. But if broken, especially if BTC makes a new ATH, the memeocin could rally to $0.27.
Business Mayor
08-05-2025
- Business
- Business Mayor
Why The Dogecoin ETF Decision Will Likely Be Delayed By The SEC
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure The dogecoin ETF wave is gaining ground since the first filings made their way onto the stage at the start of the year. This has put it in a heated race with the likes of XRP, Solana, and Litecoin in a bid to become the next cryptocurrency to get the nod from the Securities and Exchange Commission (SEC). However, an approval may still be far away, as it is expected that the regulator will push back and postpone an approval or rejection of a Dogecoin ETF. Delays Are The Order Of The Day The SEC has acknowledged the Dogecoin ETF filings, alongside that of its competitors, but that has not stopped the regulator from pushing back its decision on the funds. Back in April, both XRP and Dogecoin ETFs saw their decisions pushed back again, putting their next deliberation date at more than a month. This has followed the trend that the regulator has taken when it comes to crypto ETFs, pushing back decisions until the last minute. The most recent delay comes for the Litecoin ETF and this has shown how the regulator could be approaching the likes of Dogecoin ETFs. The Litecoin ETFs have been a favorite of Bloomberg analysts, with ETF expert James Seyffart giving it the highest likelihood of being approved at 90%, in an X post back in January. So, with the Litecoin ETF decision being pushed back by another month, it is expected that the Dogecoin ETF will get the same treatment. Read More Toncoin falls below $7: $10 or $5, where will TON go next? When it comes to approvals though, Dogecoin ETFs received the second-highest rating from the Bloomberg analyst, with a 75% possibility of getting approved this year. The next decision now being June 17 could also be postponed by the SEC, especially with nothing positive for the Litecoin ETF. The SEC will possibly postpone the decisions for the Dogecoin ETF until the final deadline, which is on October 18, 2025. However, there is no guarantee that the Dogecoin ETFs would get a green light from the regulator, although the community remains hopeful. Dogecoin ETF Could Trigger Price Rally Just like the Bitcoin and Ethereum ETF approvals triggered a surge in prices, an approval for a Dogecoin ETF could have the same effect on the native DOGE token. There have been predictions of the Dogecoin price rising as high as $10 as a result, showing the level of anticipation surrounding these funds. 21Shares has also lauded Dogecoin and its potential, saying that it is no longer just a meme coin, coming off its ETF filing. The investment firm said in a report that having Dogecoin in a portfolio could be a great boost, putting it alongside Bitcoin for a well-rounded portfolio. DOGE bulls push to break $0.18 resistance | Source: DOGEUSDT on Featured image from Dall.E, chart from
Crypto Insight
05-05-2025
- Business
- Crypto Insight
US Bitcoin ETFs bought 6x more than BTC miners produced last week
Spot Bitcoin exchange-traded funds (ETFs) in the United States bought up nearly six times as many Bitcoin as were produced by miners over the last week. The US-based Bitcoin funds bought a whopping 18,644 Bitcoin over the past week when only 3,150 BTC were mined for the period, reported asset allocator HODL15Capital on May 4. This accumulation by institutions and ETF issuers represents almost six times the amount of the asset being produced since miners only generate 450 coins per day. The total inflow for the past five trading days was around $1.8 billion, with a net outflow on April 30, according to Farside Investors. There has only been one outflow day since April 16, as the inflows have mirrored market recovery. Last week's accumulation followed an increase in BTC spot prices in early May when the asset gained 4% to reach a six-week high of $97,700 on May 2. However, the asset has since retreated to the $94,000 level, which is the same price it traded at this time seven days ago. BlackRock's iShares Bitcoin Trust (IBIT) is the industry leader, having seen almost $2.5 billion in inflows over the past five trading days and a streak of 17 days without an outflow. 'Spot Bitcoin ETFs have surged into a nearly $110 billion category, despite facing significant distribution hurdles,' said ETF Store president Nate Geraci in a blog post on May 3. He added that many wealth management platforms still restrict or prohibit financial advisers and brokers from recommending or providing access to Bitcoin ETPs. 'That's why I've said spot bitcoin ETFs are operating with one hand tied behind their backs. Imagine what might happen as these restrictions are lifted.' Litecoin ETF decision due Meanwhile, the Canary Capital spot Litecoin (LTC) ETF filing is due for a second deadline decision from the US Securities and Exchange Commission by May 5. The issuer filed for a spot Litecoin ETF alongside a spot XRP ETF in October. 'If any asset has a chance of early approval, it's Litecoin IMO,' said Bloomberg ETF analyst James Seyffart on May 5. 'Personally think a delay is more likely,' he added. Fellow analyst Eric Balchunas echoed the sentiment earlier this year. More than 70 US crypto ETFs are awaiting an SEC decision this year, Bloomberg reported in April. Source:
