- SEC has extended decision deadlines on two proposed crypto ETFs and opened a comment period for options on a third.
- Extensions apply to the Canary Pudgy Penguins (PENGU) ETF on Cboe BZX and the T. Rowe Price Active Crypto ETF on NYSE Arca.
- Both ETF delay notices were filed under the Form 19b‑4 process, allowing up to 45 additional review days.
- NYSE American proposed listing standardized options on the Grayscale CoinDesk Crypto 5 ETF, and that filing is now in the public comment phase.
- The actions signal the regulator is taking extra time to assess products that extend beyond Bitcoin and Ether exposure.
The U.S. Securities and Exchange Commission extended its decision window for two crypto-related ETF listing proposals and opened a public comment period on options for a third in notices filed on Monday. In separate Federal Register notices, the agency designated a longer review period for the Canary Pudgy Penguins (PENGU) ETF on Cboe BZX and the T. Rowe Price Active Crypto ETF on NYSE Arca, giving itself more time to assess the proposals as allowed under the Form 19b‑4 process.
The extension for the PENGU filing was formalized in a specific notice that set a longer statutory review period, reflecting additional scrutiny of the product’s structure. The PENGU notice highlights that the ETF aims to provide exposure to the Pudgy Penguins NFT ecosystem, making it a less conventional crypto proposal.
The T. Rowe Price fund is an actively managed vehicle that would hold a diversified basket of digital assets beyond Bitcoin and Ether, bringing a traditional asset manager into multi-asset crypto strategies. The SEC’s extensions do not constitute approval or denial; they give the commission more time to evaluate market structure, investor protection, and manipulation risks.
Separately, NYSE American filed a proposed rule change to list standardized options on the Grayscale CoinDesk Crypto 5 ETF, which tracks an index of five large-cap digital assets: Bitcoin, Ethereum, XRP, Solana, and Cardano. That filing has moved into the public comment phase, where market participants can submit views on whether options on the fund meet Exchange Act standards for fair and orderly markets and protections against fraud and manipulation. If approved, options would expand leverage and hedging tools available for multi-asset crypto exposure.
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