Chiara Bianchi
The U.S. Securities and Exchange Commission (SEC) has once again postponed decisions on several crypto-related exchange-traded fund (ETF) proposals. In its latest filings, the regulator said it requires more time to evaluate applications from BlackRock, Fidelity, and Franklin Templeton that seek to introduce staking features into their Ethereum ETFs.
Alongside Ethereum, Franklin Templetonโs applications for spot ETFs tied to XRP and Solana have also been delayed, extending the uncertainty around these products.
Although SEC Chairman Paul Atkins has expressed support for the digital asset sector, the agency continues to avoid final rulings on crypto ETFs. Meanwhile, major financial institutions are filing new ETF applications almost weekly, underscoring Wall Streetโs growing appetite for products that provide exposure to altcoins beyond Bitcoin and Ethereum.
Bloomberg Intelligence analyst James Seyffart shared data showing that more than 90 crypto ETF applications are currently pending SEC approval. Commenting on the trend, James McKay, founder of McKayResearch, said on X: “At this rate, weโll see ETFs for nearly every top 30โ40 cryptocurrency within a year, even with delays.”
Ethereum Staking Proposals Under Scrutiny
In July, the SEC sought public feedback on BlackRockโs proposal to amend its iShares Ethereum Trust to allow staking. The push to integrate staking gained momentum after the SECโs Division of Corporation Finance stated in May that some blockchain staking activities do not qualify as securities offerings. Many industry players interpreted this as a potential green light for crypto ETF staking.
Despite that, progress has been slow. Last month, the SEC also delayed a decision on whether Grayscale could add staking to its Ethereum ETF, leaving issuers in limbo.
Franklinโs XRP and Solana ETFs on Hold
Franklin Templeton, which submitted applications for spot XRP and Solana ETFs back in March, will now need to wait longer for regulatory clarity. These funds are part of a broader wave of interest in altcoin ETFs.
Industry leaders remain optimistic. Bitwise CIO Matt Hougan said he expects Solana (SOL) ETFs to go live by the end of the year, projecting strong momentum for the token. In addition to Bitwise and Franklin, Grayscale, VanEck, Fidelity, Invesco/Galaxy, and Canary Capital have also filed proposals for Solana-focused ETFs in the U.S.
