The U.S. Securities and Exchange Commission (SEC) has announced delays in the decision-making process for crypto ETF applications from BlackRock and Franklin Templeton.
New Deadlines for Applications
According to recent SEC filings, the new deadline for the amendment to Franklin's Ethereum is set for November 13, and for the Solana and XRP ETFs, it is November 14. Additionally, the proposal for staking in BlackRock's iShares Ethereum Trust is scheduled for October 30.
Trend of Delays from the SEC
The SEC did not indicate its stance on the applications, stating only that it requires more time for evaluation. This decision continues a trend of delays observed in recent weeks. Earlier, the SEC postponed decisions on the Dogecoin and Grayscale Hedera ETFs, setting new deadlines for November 12.
Total Number of ETF Applications
According to Bloomberg Intelligence analysts, there are over 90 crypto ETFs awaiting approval from the SEC. It is expected that within the next 12 months, there could be one ETF for each of the top 30-40 cryptocurrencies.
Delays from the SEC highlight ongoing uncertainty in the crypto ETF market. Nevertheless, positions in this area are actively continuing, and the number of pending applications continues to grow.
