It’s possible, Seyffart posited Wednesday, that another division of the agency pushed back on the approval and wants to tweak elements of the product before it can trade.
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SEC Hits Pause on Grayscale's XRP, Solana and Cardano ETF Conversion
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James Seyffart, Bloomberg ETF analyst, suggested internal divisions within the SEC may have contributed to the delay in Grayscale’s ETF conversion, as different agency divisions potentially seek further review of the fund’s structure
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