SEC Delays PENGU and T. Rowe ETF Decisions; Seeks Feedback on Grayscale Options
The U.S. Securities and Exchange Commission on Monday delayed decisions on two proposed cryptocurrency ETFs — PENGU and an application from T. Rowe — and concurrently began soliciting public feedback on proposed options linked to a Grayscale multi-asset crypto fund. The agency opened a review window for the options filing, effectively pushing final rulings further out and inviting market participants to weigh in.
The postponements prolong uncertainty for issuers and investors awaiting new spot and multi-asset structures, while the options proposal could materially expand derivatives exposure to diversified crypto holdings if approved. Approval would likely enhance hedging and liquidity options but also attract intensified regulatory scrutiny. Market watchers will track the public comment period and the SEC’s next moves for clues about the pace and scope of future crypto product approvals.