tl;dr
The U.S. Securities and Exchange Commission (SEC) has delayed decisions on multiple cryptocurrency ETF proposals, including BlackRock’s Ethereum ETF and Franklin Templeton’s Solana and XRP funds. The delays have raised questions about the SEC’s timeline for approving altcoin and staking-related pr...
**SEC Delays Crypto ETF Decisions Again: What’s Next for Ethereum Staking and Altcoins?**
The U.S. Securities and Exchange Commission (SEC) has once again postponed its rulings on a wave of cryptocurrency exchange-traded fund (ETF) proposals, including BlackRock’s iShares spot Ethereum ETF and Franklin Templeton’s Solana and XRP funds. The delays, revealed in filings this week, have reignited speculation about the regulator’s timeline for approving altcoin and staking-related products.
**Ethereum Staking and Altcoin ETFs Face Further Delays**
The SEC has extended its deadline for reviewing a rule change request by Nasdaq to allow staking in the iShares Ethereum Trust (ETHA) to October 30—a 45-day delay. Meanwhile, Cboe’s applications to list Franklin Templeton’s Solana ETF and XRP ETF have been pushed back to November 14, a 60-day deferral. These moves follow a string of recent delays, including a 60-day postponement for Nasdaq’s bid to list the Grayscale Hedera Trust and a 45-day delay for a Truth Social Bitcoin and Ethereum ETF tied to Donald Trump’s media company.
The SEC has also delayed decisions on spot XRP and Dogecoin ETFs from Grayscale, CoinShares, and others, with approval dates for these funds remaining unclear. The regulator’s backlog now includes applications from over 90 crypto ETFs, spanning Ethereum, Solana, XRP, and other altcoins.
**A Pattern of Delays: What’s Driving the SEC’s Hesitation?**
Bloomberg Senior ETF Analyst Eric Balchunas says the SEC’s recent delays align with its broader strategy. “They’ve been punting and punting,” he told Decrypt, noting that the regulator is likely waiting to finalize new listing standards that could streamline the approval process for future crypto ETFs.
Under current rules, exchanges must submit proposed rule changes for each ETF, a process that can take up to 240 days. But Cboe and NYSE recently asked the SEC to approve amendments that would allow certain crypto ETFs to be listed automatically, bypassing the need for case-by-case reviews. If approved, these changes could significantly speed up the approval of new funds.
Balchunas predicts the SEC will finalize these generic listing standards by early October, potentially unlocking a “flood of ETFs” in the following months. “We expect ETH staking to be part of it,” he said. “This SEC showed every sign of being interested in working with the issuers and solving problems.”
**High Odds for Solana, XRP, and Staking ETFs**
Despite the delays, the outlook for altcoin ETFs remains cautiously optimistic. Bloomberg estimates a more than 95% chance of Solana and XRP ETFs receiving approval this year. Balchunas added that the odds for Ethereum staking ETFs are “pretty high” as well, with the SEC seemingly open to addressing technical hurdles.
But for now, investors and issuers are left in limbo. The SEC’s cautious approach—balancing innovation with investor protection—has become a defining feature of the crypto ETF landscape. As the regulator navigates this complex terrain, the market waits to see whether the promised “flood” of ETFs will finally materialize—or if the delays will continue to test patience.
What do you think? Are these delays a sign of the SEC’s reluctance to embrace crypto, or a necessary step to ensure safeguards are in place? Let us know in the comments.