SEC Delays Decisions on Key Crypto ETFs, Pushing Approval Deadline to October

The U.S. Securities and Exchange Commission (SEC) has announced a series of delays in its rulings regarding several significant cryptocurrency exchange-traded fund (ETF) applications. This news pushes the deadlines for these ETFs into October, according to Cointelegraph. The SEC’s notices, filed on August 18, outlined new decision dates: October 8 for NYSE Arca’s Truth Social Bitcoin and Ethereum ETF, October 16 for 21Shares’ and Bitwise’s Solana ETFs, and October 19 for the 21Shares Core XRP Trust. These delays stem from a broader trend of SEC decisions being extended throughout the summer. The SEC has previously delayed applications for several altcoin ETFs, including those tied to XRP, Litecoin, and Dogecoin. Among them was CoinShares’ application for a spot Litecoin ETF, which held Litecoin (LTC) directly and issued shares backed by the token. 21Shares’ application to launch the Core XRP Trust is also in line with this trend and has been granted an additional 60-day review period before its deadline. In addition, the SEC’s review of Bitwise’s request for in-kind creations and redemptions for its spot Bitcoin and Ethereum ETFs will continue until September, a decision that could significantly impact how investors engage with these products. The SEC’s decisions on cryptocurrency ETFs have been met with scrutiny and a desire for transparency. The delay has spurred speculation about the overall regulatory landscape for cryptocurrencies in the U.S., with many experts expecting final decisions on the remaining applications this fall.