October Becomes Crucial Month as SEC Delays Decisions on Multiple Crypto ETFs Including Truth Social, XRP and Solana

SEC Delays Crypto ETF Decisions Extending Review Periods Into October

The U.S. Securities and Exchange Commission (SEC) has pushed back rulings on a wave of high-profile crypto exchange-traded funds (ETFs), setting new decision deadlines in October.

Notices filed on 18 August extended review periods for NYSE Arca’s Truth Social Bitcoin and Ethereum ETF to 8 October, 21Shares’ and Bitwise’s Solana ETFs to 16 October, and 21Shares’ Core XRP Trust to 19 October.

Why Are These Delays Happening?

The Truth Social Bitcoin and Ethereum ETF, filed on 24 June, would hold Bitcoin and Ether directly, issuing shares backed by the underlying assets.

While branded under Donald Trump’s Truth Social platform, it operates like other spot Bitcoin and Ether ETFs already on the market.

Cboe BZX also seeks approval for the first U.S. spot Solana ETFs via filings from 21Shares and Bitwise, giving investors a regulated route to track Solana price movements.

The 21Shares Core XRP Trust, designed to hold XRP, was approaching its 180-day deadline before the SEC granted an extra 60 days for review.

Bloomberg analysts suggest the delays are part of a broader SEC strategy to create a consistent framework for digital asset ETFs.

James Seyffart noted that the agency “might be stalling these things from becoming ETFs before they develop a digital assets ETF framework,” which would clarify which tokens can be listed and under what criteria.

Are Altcoin ETFs Waiting for a Generic Approval Standard?

The SEC has been collaborating with exchanges since July to establish generic listing standards for token-based ETFs.

This system would allow sponsors to bypass the case-by-case Form 19b-4 process when tokens meet predetermined conditions, including market capitalisation, on-exchange volume, and liquidity.

Once Form S-1 registration statements are submitted and the standard 75-day review period ends, products could list automatically.

Seyffart called the approach “very good news for the crypto ETF space,” while Bloomberg analyst Eric Balchunas said it is “what everyone wants, what makes sense, and what we think will happen.”

How Popular Are Crypto ETFs in the U.S.?

The U.S. now hosts a dozen spot Bitcoin ETFs, several Ether products, and a growing number of applications for Solana, XRP, and other tokens.

BlackRock’s iShares Bitcoin Trust leads with over $87 billion in assets under management, commanding most investor flows due to its scale and liquidity.

Globally, more than a hundred crypto-related ETFs are listed.

What About Other Digital Asset ETFs?

In addition to the Truth Social ETF, the SEC delayed CoinShares’ spot Litecoin ETF, Grayscale’s spot Dogecoin fund, and multiple XRP ETFs from 21Shares, Bitwise, Canary Capital, and CoinShares.

The regulator also postponed a decision on 21Shares’ proposal to add staking to its Core Ethereum ETF.

Except for Truth’s filing, the delayed ETFs now have final review deadlines in October.

Does This Signal Approval Soon?

Analysts say the delays are not unusual.

According to Decrypt, Balchunas shared that Monday’s filings were “nothing significant” and likely timed with pending approval of Cboe and NYSE’s amended listing standards.

“Even though it feels like ‘Isn’t this SEC supposed to approve all this stuff?’, the listing standards are out for comment. So just in the nick of time, these listing standards should be approved. And then we’re anticipating a batch of approvals based on the listing standard starting in October.”

Will ETF Approvals Accelerate With New Standards?

The SEC’s approach aims to replace the current 240-day, case-by-case review process with clear rules for which crypto tokens qualify for ETFs.

If implemented, the first altcoin ETF approvals could begin this October, marking a major step in standardising U.S. crypto investment products and providing investors with a clearer path to regulated exposure.