The U.S. Securities and Exchange Commission (SEC) has once again postponed decisions on a broad range of cryptocurrency exchange-traded fund (ETF) applications, moving most deadlines to October 2025. The latest extensions cover products tied to Bitcoin, Ethereum, Solana, XRP, Litecoin, and Dogecoin, underscoring the regulator’s cautious approach as it considers how to integrate digital assets into traditional financial markets.
New deadlines for key applications
In notices published Aug. 18, the SEC set Oct. 8 as the decision date for the Truth Social Bitcoin and Ethereum ETF, filed by NYSE Arca. The commission also postponed rulings on 21Shares’ and Bitwise’s Solana ETF applications until Oct. 16 and delayed the 21Shares Core XRP Trust until Oct. 19. Other applications from CoinShares, Canary Capital, and Grayscale covering XRP, Litecoin, and Dogecoin were similarly extended, with most new deadlines clustered in October.
The Truth Social ETF, submitted in June, is structured as a commodity-based trust directly holding Bitcoin and Ether. Meanwhile, the Solana and XRP proposals aim to provide investors with direct exposure to the tokens’ price performance, similar to existing spot Bitcoin and Ether ETFs.
The SEC’s strategy behind the delays
Industry analysts believe the wave of postponements is part of a broader effort to establish a unified framework for crypto ETFs, Cointelegraph reports. Bloomberg ETF specialist James Seyffart noted that the SEC may be intentionally delaying decisions until it finalizes listing standards that define which digital assets can be included in ETF structures and under what criteria. Such an approach would move away from the current case-by-case review system and streamline approvals for token-based ETFs once rules are in place.
Metrics reportedly under consideration include market capitalization, liquidity, and exchange trading volume. Supporters argue that a standardized system would provide clarity for issuers and investors, while critics warn that uncertainty will persist until official rules are published.
A growing ETF market
The U.S. already hosts more than a dozen spot Bitcoin ETFs and several Ether-based products. BlackRock’s iShares Bitcoin Trust remains the leader, with more than $87 billion in assets under management. If new altcoin ETFs are approved, it could expand investor opportunities and strengthen new segments of the crypto market.
October is shaping up to be a pivotal month for cryptocurrency ETFs. As key deadlines approach, the SEC may soon have to signal whether it is ready to broaden acceptance of digital assets — or continue with its cautious, incremental approach.
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