- SEC delays decisions on Bitcoin, Ethereum, Solana, and XRP ETFs, including Truth Social’s filing.
- New deadlines set for October, with Solana and XRP products still chasing first-ever approvals.
- Approvals could boost demand, but the SEC’s cautious stance leaves the market waiting.
The U.S. Securities and Exchange Commission isn’t rushing when it comes to crypto ETFs. Just yesterday, the agency pushed back decisions on a new wave of filings tied to Bitcoin, Ethereum, Solana, and Ripple’s XRP. Even Truth Social’s branded ETF got caught in the mix. Delays like this aren’t new, but the sheer volume of applications now flooding in shows how fast the market is moving—and how regulators are still trying to keep pace.
Three major proposals are now stuck in limbo. Truth Social is pushing for Bitcoin and Ethereum ETFs, 21Shares and Bitwise have Solana funds waiting on approval, and there’s an XRP trust also put forward by 21Shares. The SEC has kicked the can to October, with new deadlines set for the 8th, 16th, and 19th depending on the product. For investors, these vehicles would mean direct exposure to crypto without actually holding the coins, but for regulators, the stakes are high, and the scrutiny even higher.
Why the Pause?
ETF delays aren’t exactly shocking—the SEC nearly always takes the maximum time allowed before making a decision. James Seyffart, an ETF analyst, pointed out on X that early approvals would actually be the surprise move here, not the wait. Truth Social’s branding might add a political twist, but the structure itself is nothing unusual. What’s unusual is how many altcoin ETFs—like Solana and XRP—are still waiting for that elusive first approval. That hesitation makes clear just how cautious the agency remains when stepping outside Bitcoin and Ethereum.
The SEC has been on this path all year. Back in March, it punted on ETFs tied to XRP, Litecoin, and Dogecoin. Now with Solana and XRP in the spotlight, it’s the same story—growing interest from institutions, matched by regulators refusing to rush. It’s a slow tug-of-war between innovation and oversight.
What It Means for the Market
These delays aren’t just paperwork—they ripple across the entire crypto market. Spot Bitcoin and Ethereum ETFs already exist in the U.S., with BlackRock’s iShares Bitcoin Trust alone holding a staggering $87 billion in assets. If Solana or XRP ETFs do win approval in October, it could open the door to wider adoption and new demand for the tokens themselves. But until then, the market waits, pricing in either excitement for a potential green light—or more frustration if the SEC keeps dragging its feet.
The bottom line? October could be a turning point. Or, it could be just another chapter in the SEC’s long history of hesitation. For now, all eyes stay fixed on Washington while the market holds its breath.
