- The U.S. Securities and Exchange Commission delayed its decision on the Truth Social Bitcoin and Ethereum ETF, setting a new deadline for October 8.
- The SEC also postponed decisions for spot XRP funds from Grayscale, Bitwise, CoinShares, Canary Capital, and 21Shares.
- Separate decisions for Dogecoin and Litecoin ETFs, along with a proposal to add staking to an Ethereum fund, have also been delayed.
- The recent delays follow an influx of ETF proposals after the success of spot Bitcoin and Ethereum ETFs and new regulatory change requests by major exchanges.
- Analysts expect that decisions could move faster if proposed rule changes by Cboe BZX and NYSE Arca are approved.
The U.S. Securities and Exchange Commission has announced a 45-day delay for its ruling on the exchange-traded fund (ETF) tied to Bitcoin and Ethereum, proposed by Truth Social, Donald Trump‘s media and technology company. The SEC now expects to make its decision by October 8. The regulator has also extended review timelines for several other single-asset crypto ETFs.
In its latest filing, the SEC postponed decisions on spot XRP ETF proposals from Grayscale, CoinShares, Canary Capital, Bitwise, and 21Shares. The agency similarly pushed back deadlines on spot Dogecoin ETFs from Grayscale and spot Litecoin ETFs from CoinShares. The decision date for each fund may differ, but all are subject to new review periods.
The SEC also held up consideration of a request to add staking—a process where crypto holders earn rewards by helping operate blockchains—to the 21Shares Core Ethereum ETF. Four days earlier, the agency delayed decisions regarding Solana ETFs from Bitwise, 21Shares, and VanEck, as well as another Dogecoin fund from 21Shares.
These delays come as the SEC reviews a surge of crypto ETF applications. The flood of filings follows the launch of 11 spot Bitcoin and 9 Ethereum ETFs and reflects increasing mainline investor interest. Two major U.S. exchanges, Cboe BZX and NYSE Arca, recently filed for changes to listing standards that could allow crypto ETFs to be approved more quickly by bypassing the SEC’s typical 240-day review process for each proposal.
According to Bloomberg Senior ETF Analyst Eric Balchunas, the SEC’s recent moves are likely procedural, timed to follow any upcoming rule changes at the exchanges after their public comment periods. “Just in the nick of time, these listing standards should be approved. And then we’re anticipating a batch of approvals based on the listing standard starting in October.” He added, “So this delay feels discouraging, but it’s just a little more patience. It’ll all happen soon.”
While the SEC has not provided specific reasons for each delay, the regulator continues to assess a growing slate of crypto investment products as applicants and exchanges seek more streamlined approval pathways.
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