- Trending
- Comments
- Latest
The SEC delay crypto ETFs saga is stretching further, with U.S. regulators once again pushing back rulings on Truth Social, Solana (SOL), and XRP-linked products. The postponement underscores the Commission’s cautious stance, leaving both Wall Street and crypto investors waiting until October for clarity on some of the industry’s most anticipated exchange-traded funds.
On August 18, the SEC issued fresh notices extending deadlines for three high-profile exchange-traded fund (ETF) applications.
Among the delayed products is the Truth Social Bitcoin and Ethereum ETF, originally submitted on June 24. The decision date is now pushed back to October 8.
The SEC delay crypto ETFs ruling highlights not only the Commission’s cautious stance but also the growing clash between innovation and regulation.
Despite the branding connection to former President Donald Trump’s Trump Media & Technology Group, the Truth Social ETF operates like existing commodity-based trusts.
The fund would directly hold Bitcoin and Ethereum while issuing shares backed by those assets—similar to products already on the market.
Market watchers expected quicker action given the SEC’s approval of several Bitcoin and Ethereum ETFs earlier this year. Instead, the SEC delay crypto ETFs decision has put this product in limbo.
ETF expert Eric Balchunas of Bloomberg noted, “The SEC is buying time, as usual. These delays don’t necessarily indicate rejection, but they show the Commission is being extra cautious with new entrants tied to politically sensitive names.”
The SEC delay crypto ETFs order also affects Solana. Both 21Shares and Bitwise have pending applications for spot Solana ETFs, with the next review date now set for October 16.
If approved, these would be the first U.S. spot Solana ETFs, offering investors direct exposure to SOL price movements.
The filings, submitted by Cboe BZX Exchange, have drawn heavy interest given Solana’s rise as one of the fastest-growing blockchain networks. Still, the SEC has been reluctant to greenlight products beyond Bitcoin and Ethereum.
Bitwise CIO Matt Hougan has argued that excluding assets like Solana “artificially limits investor choice,” stressing that spot Solana ETFs would improve market transparency and reduce risks tied to unregulated offshore platforms.
Perhaps most closely watched is the Core XRP Trust, filed by 21Shares earlier this year. The product would hold XRP tokens directly, mirroring the approach of Bitcoin and Ethereum trusts.
The SEC delay crypto ETFs ruling sets the new deadline at October 19, after the Commission granted itself an additional 60 days to evaluate the proposal. The XRP trust was first filed in February and later amended, reflecting ongoing engagement between the issuer and regulators.
XRP investors see this delay as another roadblock in a long-running regulatory battle. Following Ripple’s partial court victory in 2023—where a judge ruled that XRP sales on exchanges were not securities—market participants hoped for faster ETF traction.
Ripple CEO Brad Garlinghouse recently told CNBC, “Regulatory clarity is overdue. Investors deserve the same protections for XRP as they do for Bitcoin and Ethereum. These repeated delays only fuel uncertainty.”
The SEC delay crypto ETFs pattern has triggered calls for reform. Exchanges like Cboe BZX and NYSE Arca have petitioned for rule changes that would allow certain crypto ETFs to list automatically—bypassing the lengthy Rule 19b-4review process.
Currently, each ETF proposal can take up to 240 days for review, but under the proposed amendments, qualified products could hit the market much faster.
Analysts believe this could pave the way for a wave of altcoin ETF approvals starting in October.
According to Balchunas, “If the listing standards are approved, we could see multiple ETFs launch in quick succession. The SEC may still be cautious, but structural reforms would make it harder to justify endless delays.”
While the SEC delay crypto ETFs rulings frustrate altcoin supporters, the U.S. ETF market continues to grow rapidly.
BlackRock’s iShares Bitcoin Trust now manages more than $87 billion in assets, far outpacing competitors.
Currently, the U.S. market boasts 12 spot Bitcoin ETFs and several Ethereum products. The next frontier, analysts say, is diversifying into altcoins like Solana, XRP, and even Dogecoin.
However, with most crypto ETF deadlines now clustered in October, the industry faces a defining moment. Either the SEC moves forward with broader approvals—or delays drag on, further cementing U.S. regulatory uncertainty.
The latest SEC delay crypto ETFs decisions spotlight the Commission’s cautious approach and the growing tension between innovation and oversight.
With October shaping up as a make-or-break month, the crypto world will be watching closely.
As Ripple’s Garlinghouse put it, “The U.S. risks falling behind global markets if regulators continue to stall. It’s time for clarity, not more delays.”
Copyright © 2025 - The Bit Gazette.
