The U.S. Securities and Exchange Commission (SEC) has once again delayed rulings on a wave of cryptocurrency exchange-traded fund (ETF) proposals, adding to an already crowded pipeline of pending applications. New Deadlines Set for Proposals In fresh filings this week, the SEC extended deadlines for funds tied to Ethereum, Solana, and XRP. Franklin Templeton’s Ethereum staking amendment is now set for a decision by November 13, while its Solana and XRP ETF proposals face a November 14 deadline. Meanwhile, BlackRock’s bid to allow staking in its iShares Ethereum Trust has been pushed to October 30. The filings only confirm the delays and do not signal how the SEC may ultimately rule. The Commission is using the maximum time permitted before a final decision. SEC’s Changing Approach to Crypto The extensions come as the SEC attempts to redefine its approach to digital assets under Chair Paul Atkins. Since President Donald Trump’s administration began in January, the agency has taken a more open stance, introducing “Project Crypto” to modernize securities rules and create a unified framework for digital asset trading, lending, and staking. At a global finance roundtable in Paris this week, Atkins underscored the shift. “Crypto’s time has come,” he told delegates. ETF Applications Continue to Mount Despite the more pro-crypto rhetoric, ETF decisions remain in limbo. On Tuesday, the SEC postponed reviews of the Bitwise Dogecoin ETF and the Grayscale Hedera ETF, pushing both deadlines to November 12. The Commission also issued multiple extensions in August, covering filings for the Truth Social Bitcoin and Ethereum ETF, the 21Shares and Bitwise Solana ETFs, and the 21Shares Core XRP Trust. Other pending proposals include WisdomTree’s XRP Fund and the Canary PENGU ETF, both delayed until October. By late August, reports indicated that at least 92 crypto-related ETF applications were sitting with the regulator. The backlog highlights the SEC’s struggle to balance political momentum, market demand, and regulatory caution in one of the fastest-growing corners of finance.
