The US Securities and Exchange Commission has taken a cautious approach toward new crypto investment products, delaying decisions on two proposed crypto ETFs while simultaneously advancing the review process for options linked to a separate multi-asset crypto fund. The moves highlight the regulator’s continued focus on market structure, investor protection, and risk oversight.
In recent regulatory filings the SEC extended its review period for proposed rule changes that would allow the listing of the Canary PENGU ETF and the T. Rowe Price Active Crypto ETF. The extension permitted under the standard ETF approval framework, gives the agency additional time to examine potential manipulation risks custody arrangements, and broader market impacts.
The PENGU ETF seeks exposure to the Pudgy Penguins digital asset ecosystem, pushing beyond traditional crypto products tied to Bitcoin and Ether. Meanwhile, the T. Rowe offering is designed as an actively managed crypto ETF, aiming for diversified exposure across multiple digital assets rather than a single-token focus.
Separately, regulators opened a public comment period on a proposal to list options tied to a Grayscale multi-asset crypto ETF. The fund tracks a basket of major digital assets, and the options review will assess whether such derivatives meet standards for fair and orderly markets.
While delays do not signal rejection, they underscore the SEC’s measured pace. At the same time, allowing public feedback on crypto ETF options suggests growing engagement with more complex digital asset products.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.