SEC Pushes Back Decisions on Bitcoin, Ether, Solana, and XRP ETFs

Regulatory Delays Build Tension

The SEC filed notices on August 18 extending ETF application deadlines:

• Truth Social’s Bitcoin & Ether ETF now due October 8.

• Solana ETFs from 21Shares and Bitwise pushed to October 16.

• 21Shares Core XRP Trust extended to October 19.

• Additional filings—including Litecoin, XRP from other issuers, and Dogecoin ETFs—are also being reviewed through mid- to late-October.

These delays show the SEC is leaning into the full timeline allowed, rather than rejecting or approving rapidly.

What This Means for the Market

These postponements matter:

• Institutional Hesitation: Funds awaiting ETF approval must wait longer, slowing money flows.

• Retail Uncertainty: Without clear signals, retail traders may stay on the sidelines or hesitate to shift into altcoins.

• Market Volatility: ETF news tends to trigger knee-jerk reactions; delays may prolong volatility windows.

October is now a pivotal month—approval could spark big moves, while further delays could cement caution.

How ETF Pending Products Stack Up

• Truth Social BTC/ETH ETF: A mass-market product linked to a media brand, but structured like existing spot funds.

• Solana ETFs: First-of-their-kind U.S. attempts to expose investors to SOL via regulated equities.

• XRP Trusts: Multiple applications face delays despite growing institutional interest and legal clarity.

Each product reflects growing demand for regulated crypto exposure—but regulators are moving deliberately.

Why the SEC Stalls

There's a method behind delays:

• Review Thoroughness: The SEC must assess liquidity, custody, and investor safeguards.

• Framework Evolution: Underlying infrastructure (e.g., 19b-4 process reform) is still being shaped—and could simplify future approvals.

• Market Perception: Rushing approvals could expose the agency to backlash if new products misbehave. Delays maintain regulatory posture.

October becomes a test of whether conservative pacing gives way to expansion.

Outlook & What to Watch

• ETF rulings in October: Positive decisions could inject fresh capital and confidence.

• Approval standards: Will new guidelines for ETFs emerge soon, fast-tracking other filings?

• Altcoin ETF momentum: Actual approvals for Solana, XRP could catalyze broader altcoin trade flows.

Investors should stay nimble, watching filings, SEC commentary, and macro trends that could influence interpretation.