The U.S. Securities and Exchange Commission (SEC) postponed its decision on several cryptocurrency exchange-traded fund (ETF) proposals on Wednesday, delaying the deadlines for funds including BlackRock and Franklin Templeton.
According to SEC documents, the agency set a new deadline of November 13 for Franklin's Ethereum staking amendment and November 14 for its Solana and XRP ETFs. The proposal seeking to allow staking in the BlackRock iShares Ethereum Trust is now scheduled for October 30.
The documents did not indicate the SEC's inclination towards these applications; they merely stated that more time is needed to evaluate them. The commission is utilizing the maximum extension available before issuing a final decision.
Franklin's proposals for Ethereum, Solana, and XRP products were submitted to Cboe BZX in mid-March, while Nasdaq submitted the BlackRock iShares Ethereum staking amendment on July 16.
Under Section 19(b) of the Securities Exchange Act, the SEC has up to 45 days from the date of publication to act on proposed rule changes, which can be extended to 90 or 180 days, and in certain cases, an additional 60 days.
Since President Donald Trump took office in January, the SEC's stance on digital assets has undergone a dramatic shift.
On July 31, SEC Chairman Paul Atkins announced the "Cryptocurrency Project," a committee-wide initiative aimed at modernizing securities rules and incorporating digital asset trading, lending, and staking into a unified framework.
Atkins emphasized this shift at the OECD Global Financial Markets Roundtable held in Paris on Wednesday, declaring that "the era of cryptocurrency has arrived."
Despite pushing for support of cryptocurrencies, the SEC continues to delay decisions on ETF applications, with proposals for altcoins and staking products piling up.
On Tuesday, the federal agency postponed its decision on the Bitwise Dogecoin ETF and Grayscale Hedera ETF, extending both reviews to November 12.
In August, the SEC issued a series of delays for pending cryptocurrency ETF applications. This included the Truth Social Bitcoin and Ethereum ETF filings submitted by NYSE Arca, now with a deadline of October 8, as well as the 21Shares and Bitwise Solana ETFs, delayed to October 16, and the 21Shares Core XRP Trust postponed to October 19.
On August 25, the regulator also extended the review period for the WisdomTree XRP fund proposal listed on Cboe BZX, setting a new deadline of October 24. On the same day, the commission delayed its decision on the Canary PENGU ETF, pushing the ruling to October 12.
According to a report on August 29, the SEC is reviewing at least 92 cryptocurrency-related ETF proposals.
Related: Opinion: SEC Approval Listing Standards Could Mainstream Cryptocurrency ETFs
Original article: “SEC Delays BlackRock, Franklin Templeton Cryptocurrency ETF Decisions”
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