The U.S. Securities and Exchange Commission (SEC) has postponed its decisions on several crypto ETF applications, including those proposed by Franklin Templeton and BlackRock.
Delayed Decisions on Franklin Templeton’s Crypto ETFs
Franklin Templeton’s applications for Ethereum and Solana ETFs, initially filed in March, have been delayed. The Ethereum staking ETF proposal is scheduled for review on November 13, while the Solana and XRP ETFs will be reconsidered on November 14. Despite these setbacks, the company remains hopeful for approval due to increased interest in cryptocurrencies beyond Bitcoin.
SEC’s Procedural Delays Across the Crypto ETF Sector
The SEC’s delay aligns with a broader trend of postponed crypto ETF proposals. Several other products have also faced delays in recent months. Currently, the SEC is reviewing over 90 crypto-linked ETFs, with decision deadlines falling into October and November. This approach reflects the SEC's cautious stance toward cryptocurrencies and the need for investor protection.
Interest in Solana ETFs Despite Delays
Despite the delays in SEC decisions, demand for crypto ETFs remains strong. Asset managers are eager to offer access to regulated products featuring a diverse range of cryptocurrencies, including Solana. Industry experts believe mainstream assets like Ethereum and Solana may achieve approval sooner than staking-related products.
The SEC continues its cautious approach to regulating crypto ETFs, which may impact future applications, including those from Franklin Templeton and BlackRock.
