The US Securities and Exchange Commission (SEC) has pushed back decisions on several crypto exchange traded fund (ETF) proposals, including products from BlackRock and Franklin Templeton.
According to SEC filings, Franklin Templeton’s amended Ethereum staking proposal will now face a ruling by 13 November, while its Solana and XRP ETFs are due for review on 14 November. BlackRock’s request to add staking to its iShares Ethereum Trust has been postponed until 30 October.
The filings show no indication of how the SEC may rule. Instead, the agency stated it needs more time and is using the maximum extension period before issuing a final decision.
Related: SEC Delays Decisions on Multiple Crypto ETF Proposals Until October
Background on the Proposals
Franklin Templeton filed its Ethereum, Solana, and XRP proposals with Cboe BZX in March, while Nasdaq submitted BlackRock’s Ethereum staking amendment on 16 July.
Under Section 19(b) of the Securities Exchange Act, the SEC has 45 days from publication to respond to proposed rule changes. This window can be extended to 90 or 180 days, and in some cases, by an extra 60 days.
SEC’s New Approach Under Trump
The delays come even as the SEC has taken a noticeably different approach to digital assets since US President Donald Trump entered office in January.
On 31 July, SEC Chair Paul Atkins announced Project Crypto, a commission-wide initiative aimed at modernising securities rules and creating a unified framework for trading, lending, and staking digital assets.
Proposals Continue to Pile Up
Despite the SEC’s new pro-crypto tone, delays on ETF applications remain frequent. On Tuesday, the regulator postponed decisions on the Bitwise Dogecoin ETF and the Grayscale Hedera ETF, setting both reviews for 12 November.
In August, several other extensions were issued:
- Truth Social Bitcoin and Ethereum ETF (NYSE Arca) – decision due 8 October
- 21Shares and Bitwise Solana ETFs – extended until 16 October
- 21Shares Core XRP Trust – postponed until 19 October
- WisdomTree XRP Fund (Cboe BZX) – new deadline 24 October
- Canary PENGU ETF – decision pushed to 12 October
As of 29 August, reports suggested the SEC had at least 92 crypto-linked ETF proposals under review.
