SEC Pushes Back on Crypto ETF Approvals

Grayscale's PENGU ETF and T. Rowe Price's multi-asset crypto ETF just hit a regulatory roadblock. The U.S. Securities and Exchange Commission has extended its decision timeline, granting itself another 45 days to complete the review under the 19b-4 filing process.

This delay means the market will have to wait a bit longer before these products can potentially launch. Both ETFs represent significant moves in the institutional crypto space—particularly PENGU as a focused asset ETF. The extended timeline suggests the SEC wants more time to thoroughly evaluate the applications, a common occurrence in the crypto investment product approval pipeline.