The US Securities and Exchange Commission (SEC) has postponed rulings on several high-profile crypto exchange-traded fund (ETF) applications, pushing deadlines into October.
In notices filed on 18 August, the regulator set 8 October as the new date for a decision on NYSE Arca’s Truth Social Bitcoin and Ethereum ETF. The agency also extended reviews for Solana-based ETFs from 21Shares and Bitwise until 16 October, and for the 21Shares Core XRP Trust until 19 October.
The Truth Social Bitcoin and Ethereum ETF, submitted on 24 June, is designed as a commodity-based trust. It would hold Bitcoin and Ether directly, with shares backed by those assets. Despite its branding under former President Donald Trump’s Truth Social platform, the product mirrors existing spot Bitcoin and Ether ETFs already available in the market.
Cboe BZX has also filed for the first spot Solana ETFs in the US through 21Shares and Bitwise. These funds would hold Solana tokens and give investors a secure and regulated way to gain exposure to Solana’s market performance.
21Shares is also seeking approval for the Core XRP Trust, which would hold XRP and track its value. First filed in February and later amended, the proposal was nearing its 180-day review deadline before the SEC granted itself an additional 60 days.
Pattern of ETF Delays
The recent delays are part of a broader pattern. Throughout the summer, the SEC has extended review periods for multiple crypto ETF proposals, many of which are now scheduled for decisions in the autumn.
In March, the regulator delayed rulings on several altcoin ETFs, including products tied to XRP, Litecoin and Dogecoin. Among them was CoinShares’ application for a spot Litecoin ETF, which, like the other filings, was pushed into the fall review period.
The SEC has also extended its review of Bitwise’s request to allow in-kind creations and redemptions for its spot Bitcoin and Ethereum ETFs. That decision, now due in September, would determine whether investors could exchange ETF shares directly for the underlying crypto rather than cash.
Analysts Expect Extended Timelines
The SEC often takes its full extension periods to study new products and gather public feedback. Bloomberg ETF analyst James Seyffart noted in a 20 May post on X that the SEC “typically takes the full time to respond to a 19b-4 filing.”
He added that most pending ETF applications face final deadlines in October, making early approvals unlikely.
