The U.S. Securities and Exchange Commission (SEC) has delayed decisions on several cryptocurrency ETF applications, including those from Franklin Templeton and BlackRock.
Delayed Decisions on Franklin Templeton ETFs
The SEC has postponed the review of Franklin Templeton's modified application for an Ethereum staking ETF to November 13. Another Ethereum staking ETF request is also delayed for review on November 14. Applications for Solana and XRP ETFs have similarly been postponed. Despite this, Franklin Templeton remains optimistic that the growing interest in cryptocurrencies beyond Bitcoin will eventually lead to the approval of their products.
Regulatory Challenges for Crypto ETFs
The current delays reflect the SEC's cautious approach to regulating investment products based on digital assets. The SEC is currently reviewing over 90 cryptocurrency ETF applications, including those from Bitwise and Grayscale. These delays help the SEC avoid hasty decisions and provide an opportunity to thoroughly analyze potential risks to investors.
High Interest in Solana ETFs Continues
Despite the delays, interest in cryptocurrency ETFs remains high. Major asset managers like Grayscale, VanEck, and Fidelity are set to offer investment products related to Solana. Bitwise CIO Matt Hougan noted that once these products become available, significant demand could arise.
The SEC has postponed the review of several cryptocurrency ETF applications, including those from Franklin Templeton and BlackRock. These delays highlight the cautious approach of the SEC to cryptocurrency investment regulation.
