The U.S. Securities and Exchange Commission (SEC) has once again postponed decisions on several cryptocurrency ETF applications. The delays come amid rising demand for this type of investment product.
SEC Delays and New Deadlines
The SEC has extended review periods for several high-profile cryptocurrency ETFs. In filings made on August 18, the agency set new deadlines: October 8 for the Truth Social Bitcoin and Ethereum ETF, October 16 for Solana ETF applications from 21Shares and Bitwise, and October 19 for the 21Shares Core XRP Trust.
Popular ETFs and Their Features
The Truth Social ETF, submitted in June, is a commodity-based trust that directly holds Bitcoin and Ethereum, despite being linked to former President Donald Trump’s social media platform. Meanwhile, 21Shares and Bitwise are seeking approval for the first U.S. spot Solana ETFs. The SEC has also extended its review of 21Shares’ Core XRP Trust, which is designed to hold XRP directly.
Growing Interest in Cryptocurrency ETFs
These delays are consistent with the SEC’s pattern this year. Since March, the regulator has postponed decisions on multiple altcoin-related ETFs, including products tied to XRP, Litecoin, and Dogecoin. According to Bloomberg, the agency almost always uses its full extension period to gather feedback before issuing a final ruling. Notably, this year, cryptocurrency-related products saw $3.75 billion in inflows.
The delays in the SEC's decision-making underline the growing interest of the market in cryptocurrency ETFs. As investments in this sector increase, the regulator continues to examine all aspects of the proposed applications.
