The U.S. Securities and Exchange Commission (SEC) has announced a delay in decisions regarding multiple crypto ETF proposals, including those from Franklin Templeton and BlackRock.
Overview of Delays
The SEC announced new deadlines for several ETF proposals on Wednesday. The extensions apply to funds including Ethereum and Solana from Franklin Templeton, as well as the iShares Ethereum Trust from BlackRock. New deadlines for Franklin Templeton have been set for November 13 and 14.
New Deadlines for Franklin Templeton ETF
According to SEC filings, the deadlines for Franklin Templeton's applications for Ethereum, Solana, and XRP ETFs have been postponed. A decision on the amendment for BlackRock's iShares Ethereum Trust is expected by October 30.
Overall Market Condition for ETFs
Despite recent SEC initiatives to modernize rules for digital assets, such as 'Project Crypto,' decisions on ETF applications continue to be delayed. The SEC has not indicated its stance on the applications but mentions the need for more time to evaluate them.
Thus, the ongoing delays from the SEC highlight the increasing attention to crypto ETFs, although challenges in the decision-making process remain.
