SEC (the US Securities and Exchange Commission) has again pushed back the date for its decisions on a couple of high-profile cryptocurrency ETFs (exchange-traded funds), and their final ruling is now expected to be in October.
This delay involves some of the most anticipated products in the crypto space, including ETFs linked to Bitcoin, Ethereum, Solana, and XRP, as well as Truth Social’s Bitcoin-Ethereum hybrid ETF. The SEC’s extended review timelines highlight the growing importance of these products in shaping the future of crypto investment in the U.S.
Delay Until October
On August 18, the SEC said that it will postpone decisions on these ETFs until the fall. The Truth Social Bitcoin and Ethereum ETF is notably given a decision date of October 8, 2025, while the Bitwise Solana ETF and 21 Shares Core Solana ETF, which would provide regulated access to the $180 Solana token, have been postponed until October 16. Lastly, the 21Shares Core XRP Trust, which says it will hold the XRP and track market action, will have a decision on October 19.
These products are part of a broader wave of crypto ETFs that have gained momentum following the SEC’s landmark approvals of Bitcoin and Ethereum spot ETFs last year. However, the SEC has yet to make decisions on several altcoin ETFs, including those focused on Litecoin and Dogecoin, pushing the industry to wait for clarity on the regulatory front.
Solana and XRP ETFs: The Next Frontier for Crypto Investors
Among the more exciting developments in the crypto ETF space are the upcoming Solana and XRP-focused funds. Solana, with its lightning-fast transaction speeds and low fees, has emerged as a strong contender in the crypto world. ETFs tied to Solana would provide regulated exposure to the coin, enabling investors to gain exposure to Solana’s price movements without needing to navigate the complexities of direct crypto ownership.
XRP, the native asset of the Ripple network, has also seen significant interest from institutional investors. The 21Shares Core XRP Trust aims to provide a secure and regulated method for investors to access XRP’s market performance. XRP’s inclusion in the SEC’s ongoing reviews reflects growing confidence in its role within the broader digital asset ecosystem.
As more cryptocurrencies gain recognition, the SEC’s upcoming decisions will play a critical role in shaping how digital assets are perceived by institutional investors. However, the SEC’s cautious approach also underscores the need for clear regulatory frameworks in the crypto space, which many experts believe will help drive future growth.
As crypto ETFs gain traction, it’s also worth highlighting the increasing interest in Bitcoin Layer 2 solutions like BTC Hyper coin. Bitcoin Hyper is designed to improve Bitcoin’s transaction efficiency by enabling faster and more affordable transactions, addressing two of the key limitations that have long plagued the network. This technology could provide an additional layer of scalability to Bitcoin, which remains the dominant cryptocurrency by market cap, but often faces challenges when it comes to transaction speed and cost.
What’s Behind the SEC’s Decision Delays?
The SEC’s ruling delays are simply part of a larger trend seen throughout the summer. The commission has extended the review period for a large number of crypto-related ETFs, with more review time given to assess the complex market and regulatory conditions, including the regulatory environment. However, James Seyffart, an ETF analyst, says that SEC delays are not unusual.
These products have the potential for broad market implications, and while there are certainly more applications than we have ever seen, having more applications also prompts the question of whether the SEC has handled the applications with special care because of the unique nature of these digital assets.
One unique ETF is the Truth Social Bitcoin and Ethereum ETF, which is drawing a lot of attention because the ETF is tied to Donald Trump’s social media platform. Critics have even gone so far as to question how much influence politics will have on the decisions related to approval, citing Trump’s historic dealings in the crypto space before his presidency. Further, in July, the parent company of Truth Social, Trump Media, bought $2 billion worth of Bitcoin.
While there may be controversy, Truth Social’s ETF is designed similarly to the Bitcoin and Ethereum ETFs currently seeking approval in the U.S., so it appears that the potential delay to final approval has to do more with administrative processes than ideological differences.
What’s Next for the SEC and Crypto Investors?
Going forward, the SEC rulings will be very important in the process of creating a framework for all crypto ETFs will be able to get approval to provide the market with more regulated access to digital assets. While delays are common, they do signal the growing importance of these products, with market participants eager for clarity on what the future holds.
If approved, the SEC’s decisions will provide a pathway for more cryptocurrencies to enter the mainstream investment landscape and provide access to an increasingly diverse product suite for investors. Solana and XRP are just the first ones.
Conclusion
As the SEC combs through its lengthened review processes, it will be interesting to see if the coming months are a tipping point for crypto ETFs. With all these deadlines and more products coming up, the next chapter of crypto ETFs will usher in a new era of digital asset investing. This could probably lead to a greater convergence between traditional finance and the digital asset world.