The U.S. Securities and Exchange Commission on Monday extended its decision deadline on two crypto ETFs and opened a comment window on options tied to a third. The actions were published in Federal Register notices after exchanges filed rule changes to list the funds.
The extensions use the standard 19b‑4 process, which lets the agency add up to 45 days for review. The SEC said it needs more time to evaluate market structure, investor protection and manipulation risks.
The SEC designated a longer review for the proposed Canary Pudgy Penguins (PENGU) ETF on Cboe BZX, which would seek exposure to the Pudgy Penguins NFT collection (Ed. note: This tests ETF exposure to NFT and meme assets). See the SEC decision on PENGU ETF.
Regulators also extended review of the T. Rowe Price Active Crypto ETF proposed for NYSE Arca, an actively managed fund targeting a basket of digital assets beyond Bitcoin and Ether.
Separately, NYSE American filed to list standardized options on the Grayscale CoinDesk Crypto 5 ETF, which tracks Bitcoin, Ethereum, XRP, Solana and Cardano. That proposal entered the public comment phase to assess consistency with Exchange Act standards, and would create additional hedging and leverage tools for multi-asset crypto exposure.
