Charles Esther
The United States Securities and Exchange Commission (SEC) has postponed rulings on several high-profile cryptocurrency exchange-traded funds (ETFs), extending their review timelines into October.
In filings dated August 18, the agency scheduled new deadlines of October 8 for the Truth Social Bitcoin and Ethereum ETF, October 16 for Solana ETFs from 21Shares and Bitwise, and October 19 for the 21Shares Core XRP Trust.
Details of Truth Social Bitcoin-Ethereum ETF
The Truth Social ETF, submitted on June 24, is designed as a commodity-based trust.
It directly holds Bitcoin and Ether, issuing shares backed by these assets.
Although branded under Donald Trump’s Truth Social platform, the ETF functions similarly to existing spot Bitcoin and Ether funds.
First US Solana ETFs Awaiting Approval
Cboe BZX has also filed on behalf of 21Shares and Bitwise to launch the first spot Solana ETFs in the United States.
These products would allow investors to gain regulated exposure to Solana’s price movement by holding SOL tokens directly.
XRP Trust Extension
Another filing from 21Shares seeks approval for the Core XRP Trust.
The product is designed to hold XRP and track its market performance.
Originally filed in February, the application was nearing its 180-day deadline before the SEC extended the review by an additional 60 days.
October Set to Be Crucial for ETF Rulings
The SEC has frequently extended deadlines for crypto ETF filings this year.
Many of these proposals are now converging on October, making it a pivotal month for the industry.
Earlier in March, the regulator delayed multiple altcoin ETFs, including applications for Litecoin, Dogecoin, and XRP-based products.
Ongoing Review of In-Kind Redemptions
Separately, the SEC is still reviewing Bitwise’s request to allow in-kind redemptions for its spot Bitcoin and Ethereum ETFs.
That decision, expected in September, would determine whether investors can exchange ETF shares for the underlying cryptocurrency instead of cash.
SEC Uses Full Extension Periods
According to Bloomberg ETF analyst James Seyffart, the SEC typically uses its entire review period before making final decisions.
He noted that most filings this year have October deadlines, making early approvals unlikely.
Growing ETF Market in the United States
The US now hosts multiple spot Bitcoin ETFs, several Ether ETFs, and a rising number of filings for Solana, XRP, and other altcoins.
This growth mirrors the global trend, where more than 100 crypto-related ETFs are already listed.
BlackRock Leads the Market
BlackRock’s iShares Bitcoin Trust remains the dominant player, managing over $87 billion in assets.
Its scale, liquidity, and strong brand presence continue to draw the majority of inflows, leaving competitors behind.
