Regulators push back rulings on Solana, XRP, and Ethereum staking funds amid growing wave of crypto ETF proposals.
SEC delays crypto ETF applications again
The U.S. Securities and Exchange Commission (SEC) has once again delayed decisions on multiple cryptocurrency exchange-traded fund (ETF) proposals, including filings from BlackRock and Franklin Templeton. According to recent filings, Franklin’s Solana and XRP ETF proposals are now scheduled for a ruling on November 14, while its Ethereum staking amendment will be decided by November 13.
BlackRock’s request to permit staking within the iShares Ethereum Trust has been pushed back to October 30, with regulators citing the need for additional time.
Regulatory process under maximum extension
Under Section 19(b) of the Securities Exchange Act, the SEC has up to 180 days — and in some cases an additional 60 — to review ETF applications. By invoking the maximum extension, the agency signaled it is not ready to approve or reject these filings.
“The SEC is using every day allowed under the law to fully vet these products,” said a New York-based digital asset analyst. “While the market is eager for approvals, regulators remain cautious about investor protections.”
Dozens of ETF proposals under review
The delays come as the SEC is handling a record volume of crypto-linked ETFs. As of late August, the agency had at least 92 active applications under review, ranging from altcoin-based products to staking-focused funds.
Despite SEC Chair Paul Atkins launching “Project Crypto” in July to modernize rules for digital assets, approvals remain elusive. At a global roundtable in Paris this week, Atkins emphasized, “Crypto’s time has come,” yet decisions continue to be postponed.
Market watchers note that these extensions are typical for emerging financial products but highlight the growing tension between investor demand and regulatory caution.
For now, the fate of Solana, XRP, and Ethereum staking ETFs remains uncertain, with November shaping up to be a pivotal month for the industry.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.