SEC Delays Rulings on High-Profile Crypto ETFs

The US Securities and Exchange Commission (SEC) has pushed back deadlines for its decisions on three applications for crypto exchange-traded funds (ETFs), impacting their potential launch by the end of October. The agency extended review dates for Truth Social Bitcoin and Ethereum, Solana, and XRP ETFs, originally set to be approved in August. 21Shares’ Solana ETF application, previously set for June, is now projected for a decision date of October 16th. Similarly, the 21Shares Core XRP Trust, already facing an extended deadline, will await a decision from the SEC by October 19th. The Truth Social Bitcoin and Ethereum ETFs, structured as commodity-based trusts holding Bitcoin and Ether directly and issuing shares backed by these assets, function similarly to existing spot ETFs already on the market.