EddieJayonCrypto
30 Apr 25
The US Securities and Exchange Commission (SEC) delayed decisions on five crypto-related ETF applications on April 29, affecting Franklin Templeton’s spot Solana and XRP ETFs, Grayscale’s spot Hedera ETF, Bitwise’s spot Dogecoin ETF, and Fidelity’s spot Ethereum staking provisions. Analysts expect f...
The US Securities and Exchange Commission (SEC) has postponed decisions on five crypto-related exchange-traded fund (ETF) applications as of April 29. This move affects Franklin Templeton’s spot Solana (SOL) and XRP ETFs, Grayscale’s spot Hedera (HBAR) ETF, Bitwise’s spot Dogecoin (DOGE) ETF, and the staking provisions related to Fidelity’s spot Ethereum (ETH) ETF.Bloomberg ETF analysts James Seyffart and Eric Balchunas anticipated these delays, noting that final rulings are expected by October 2025 or later. Seyffart also indicated the potential for additional postponements amid a backlog of roughly 72 crypto ETFs still awaiting SEC approval.Balchunas highlighted that the SEC is unlikely to finalize decisions until Chair Paul Atkins has fully assumed office and a comprehensive strategy is developed. He mentioned ongoing external consultations as the agency prepares for future approvals.SEC decisions on crypto ETF filings generally follow statutory deadlines at 45, 90, 180, and 240 days after the filings’ publication in the Federal Register. Many of the delayed ETFs now have final decision deadlines set in the third and fourth quarters of 2025. Specifically, Franklin’s Spot XRP ETF faces a final cutoff date of November 5, 2025, while the Franklin Spot Solana ETF awaits a ruling by October 7, 2025. Both Grayscale’s Hedera ETF and Bitwise’s Dogecoin ETF share an October 8, 2025 deadline.The Fidelity Ethereum staking provisions remain pending, with initial stages completed as of April 2025. These delays are in line with customary SEC protocol, which extends evaluation timeframes without issuing outright denials, allowing more thorough review of the applications.