SEC delays 5 crypto ETFs, analysts expect final ruling in October
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SEC delays 5 crypto ETFs, analysts expect final ruling in October
According to the ETF approval calendar compiled by Bloomberg's ETF analysts, many delayed products still face final deadlines between the third and fourth quarters.
Navigating Web3 tides with focused insightsAuthor: cryptoslate
Translation: Blockchain Knight
On April 29, the SEC postponed decisions on five crypto-asset-related ETF applications—a move expected by Bloomberg ETF analysts James Seyffart and Eric Balchunas.
The delay affects Franklin Templeton’s spot Solana (SOL) ETF and XRP ETF, Grayscale’s spot Hedera (HBAR) ETF, Bitwise’s Dogecoin (DOGE) ETF, as well as staking provisions related to Fidelity’s spot Ethereum (ETH) ETF.
"To me, this was expected. Most of these applications have final deadlines in October 2025 or later," said Seyffart.
He also did not rule out further delays this week, as around 72 crypto ETFs await SEC approval and their respective deadlines are approaching.
Balchunas noted that the SEC is unlikely to make any decisions on these matters until Chairman Paul Atkins is officially seated.
"They’ve been meeting with outside parties. They’re probably formulating a strategy. After that, they might start approving applications," he added.
SEC decisions on crypto-asset ETF applications typically follow a series of statutory deadlines: 45 days, 90 days, 180 days, and 240 days after publication of the 19b-4 filing in the Federal Register.
According to the ETF approval calendar compiled by Bloomberg ETF analysts, many of the delayed products still face final decision deadlines between the third and fourth quarters.
The updated calendar sets the final decision deadline for Franklin’s spot XRP ETF at November 5, 2025, while Franklin’s spot SOL ETF must receive a ruling by October 7, 2025.
The final deadlines for Grayscale’s Hedera ETF and Bitwise’s Dogecoin ETF are both set for October 8, 2025. The Ethereum staking provisions related to Fidelity’s proposal remain pending, with an initial phase completed in April 2025.
This postponement aligns with the SEC’s standard practice, extending the agency’s review period without rejecting the applications outright.
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