SEC Further Delays Reviews of Crypto ETF Proposals
The U.S. SEC has once again postponed decisions on key crypto ETF proposals, especially those involving Ethereum staking. This leaves major players like BlackRock, Fidelity, and Franklin Templeton waiting anxiously.
BlackRock’s iShares Ethereum Trust staking feature is now under review until October 30, moved from September 15. Similarly, Fidelity’s Ethereum Fund and Franklin Templeton’s proposals have been extended to November 13. The SEC cited the need for extra time to assess these complex changes.
- BlackRock’s proposal deferred to October 30
- Fidelity and Franklin Templeton’s delays until November 13
- CBOE’s 21Shares Ethereum ETF now due October 23
- Grayscale Ethereum ETF rescheduled to October 29
Beyond staking ETFs, attempts to launch funds tracking Solana and XRP by Franklin Templeton are now set for a November 14 review.
The SEC’s caution reflects deep regulatory concerns. Issues like custody, market manipulation, and investor protection are at stake. The Commission appears to be using these delays to refine its Generic Listing Standards, aiming to simplify future crypto ETF approvals.
Over 90 crypto ETF applications are still pending. Despite a crypto-kind surroundings under the Trump management and SEC Chairman Paul Atkins, the SEC remains cautious after approving Bitcoin and Ethereum-related ETFs in 2024. As deadlines in October and November approach, the crypto industry watches nervously.
