SEC Pushes Back Decisions on Crypto ETFs to October
The U.S. Securities and Exchange Commission (SEC) has once again delayed rulings on multiple cryptocurrency exchange-traded fund (ETF) applications, moving most deadlines into October 2025. The extensions affect filings tied to Bitcoin, Ethereum, Solana, XRP, Litecoin, and Dogecoin, underscoring the regulator’s cautious approach as it evaluates how to integrate digital assets into the broader financial system.
New Deadlines for Key Applications
In notices issued on August 18, the SEC set October 8 as the new decision date for the Truth Social Bitcoin and Ethereum ETF, submitted by NYSE Arca. Rulings on 21Shares’ and Bitwise’s Solana ETF applications were postponed to October 16, while the 21Shares Core XRP Trust was pushed to October 19. Other filings from CoinShares, Canary Capital, and Grayscale—covering XRP, Litecoin, and Dogecoin—were also extended, with most clustered around October deadlines.
The Truth Social ETF, filed in June, is structured as a commodity-based trust directly holding Bitcoin and Ether. By contrast, the Solana and XRP proposals are designed to give investors direct exposure to token price movements, similar to existing spot Bitcoin and Ether ETFs.
The SEC’s Rationale for Delays
Analysts view the postponements as part of a broader effort to establish a consistent framework for crypto ETFs, according to Cointelegraph. Bloomberg ETF analyst James Seyffart noted that the SEC may be waiting to finalize listing standards defining which digital assets qualify for ETF inclusion and under what conditions. Such standards would replace the current case-by-case review process and could streamline approvals once implemented.
Factors under consideration reportedly include market capitalization, liquidity, and trading activity. Advocates argue that a standardized framework would bring much-needed clarity and stability to the market, while critics caution that regulatory uncertainty will persist until official guidelines are published.
An Expanding ETF Landscape
The U.S. market already hosts more than a dozen spot Bitcoin ETFs and several Ether-based products. BlackRock’s iShares Bitcoin Trust leads the sector, managing over $87 billion in assets. Approval of new altcoin ETFs could broaden investor access and drive growth across emerging segments of the cryptocurrency market.
October is shaping up to be a decisive month for cryptocurrency ETFs. As deadlines approach, the SEC will need to indicate whether it is prepared to expand access to digital asset products—or maintain its incremental, cautious stance.