The US government shutdown is delaying the expected ETF approval decisions for many altcoins.
Although the deadlines for decisions on numerous ETFs pending before the SEC have arrived, the SEC is unable to announce its decisions due to the shutdown.
However, despite this delay, new ETF applications continue to arrive.
At this point, one of the most established companies in the US, T. Rowe Price, has filed a new cryptocurrency ETF application with the SEC.
This was no ordinary application; it marked a significant milestone, symbolizing the company’s direct entry into the cryptocurrency market. While the company is active in the ETF market, it was its first ETF application in the cryptocurrency space.
The established company, founded in 1937, is seeking regulatory approval from the SEC to launch an actively managed ETF tied to multiple cryptocurrencies.
The ETF will offer investors the opportunity to invest in 5 to 15 cryptocurrencies by market capitalization. This list currently ranges from Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP to Dogecoin (DOGE) and Shiba Inu (SHIB).
At this point, the $1.8 trillion asset management firm’s first foray into the cryptocurrency world comes nearly two years after the SEC approved spot Bitcoin ETFs.
Nate Geraci, President of The ETF Store, said in a post on X: “T. Rowe Price has filed an application with the U.S. Securities and Exchange Commission (SEC) for an actively managed cryptocurrency ETF. This application is a significant move that completely exceeds market expectations.”
*This is not investment advice.