TLDR
- SEC pushes BlackRock Ethereum staking ETF decision to October 30, 2024
- Franklin Templeton’s Solana and XRP ETF deadlines moved to mid-November 2024
- Federal regulators use maximum extension periods before final ETF decisions
- Over 92 crypto ETF applications currently under SEC review
- Commission maintains pro-crypto stance while delaying multiple fund approvals
The Securities and Exchange Commission has extended review periods for multiple high-profile crypto ETF applications from major asset managers. BlackRock and Franklin Templeton face new deadlines as federal regulators take additional time to evaluate their proposals.
BlackRock’s iShares Ethereum Trust received a new decision deadline of October 30 for its staking amendment. The proposal would allow the ETF to earn additional returns by staking Ethereum tokens. Nasdaq originally submitted this application on July 16, with the SEC publishing it in the Federal Register on August 1.
Franklin Templeton’s crypto ETF applications face November deadlines. The company’s Ethereum staking proposal must receive a decision by November 13. Franklin’s Solana and XRP ETF applications have a November 14 deadline.
The SEC filed these extensions Wednesday, using maximum available review periods. Under Securities Exchange Act Section 19(b), the commission has 45 days from publication to act on proposed rule changes. This can extend to 90 or 180 days, with an additional 60 days possible.
Multiple Crypto ETF Delays Continue
The delays extend beyond these major asset managers. On Tuesday, the SEC postponed decisions on the Bitwise Dogecoin ETF and Grayscale Hedera ETF until November 12. Multiple other applications received similar extensions in recent weeks.
In August, the commission delayed the Truth Social Bitcoin and Ethereum ETF until October 8. The 21Shares and Bitwise Solana ETFs were pushed to October 16. The 21Shares Core XRP Trust faces an October 19 deadline.
The WisdomTree XRP Fund deadline moved to October 24. The Canary PENGU ETF decision was postponed until October 12. As of August 29, the SEC had at least 92 crypto-linked ETF proposals under active review.
Pro-Crypto Policy Shift Under New Leadership
The SEC has shifted toward a more crypto-friendly stance since January 2025. Chair Paul Atkins launched “Project Crypto” on July 31, a commission-wide initiative to modernize digital asset regulations. The project aims to create unified frameworks for crypto trading, lending, and staking.
At a Paris conference Wednesday, Atkins declared that “Crypto’s time has come.” This represents a policy reversal from previous SEC positions on digital assets. The commission has clarified that staking activities are not securities, potentially supporting ETF approvals.
The REX-Osprey Solana ETF already includes staking features, demonstrating regulatory acceptance. Several Ethereum staking ETF decisions cluster in late October. The 21Shares Ethereum ETF staking decision comes October 23. Grayscale’s ETH staking proposal faces an October 29 deadline, one day before BlackRock’s decision.
Franklin Templeton originally filed its Ethereum, Solana, and XRP proposals with Cboe BZX in mid-March. The extended review periods reflect the complex regulatory questions surrounding alternative cryptocurrency ETFs. The commission stated it needs sufficient time to consider proposals and related issues before making final determinations.
