The U.S. Securities and Exchange Commission (SEC) has postponed decisions on several high-profile cryptocurrency exchange-traded funds (ETFs), extending review deadlines into October. Notices filed on August 18 set new decision dates for three major proposals: 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.
The Truth Social ETF, submitted June 24, would hold Bitcoin (BTC) and Ethereum (ETH) directly as a commodity-based trust. Though branded under former President Donald Trump's platform, its structure mirrors existing spot Bitcoin and Ether ETFs. The SEC cited needing 'sufficient time to consider the proposed rule change' amid criticism of Trump's crypto ventures, including concerns from watchdog Accountable.US that approval could 'undermine confidence in markets'.
Cboe BZX seeks approval for the first U.S. spot Solana (SOL) ETFs through 21Shares and Bitwise, which would hold SOL tokens. The 21Shares Core XRP Trust, initially filed in February and nearing its 180-day deadline, received a 60-day extension. Additional delays affect CoinShares' Litecoin (LTC) and XRP ETFs, Canary XRP Trust, Grayscale XRP Trust, and a staking proposal for 21Shares' Ethereum ETF.
Bloomberg ETF analyst James Seyffart noted the SEC 'typically takes the full time' for reviews, with October becoming a cluster for rulings. This follows March delays for altcoin ETFs including Litecoin and Dogecoin. Separately, the SEC extended its review of Bitwise's request for in-kind creations/redemptions for spot Bitcoin and Ethereum ETFs to September.
The U.S. hosts dozens of crypto ETFs, with BlackRock's iShares Bitcoin Trust dominating at $87 billion in assets. Globally, over 100 crypto-related ETFs operate, reflecting growing institutional interest despite regulatory hurdles.