Freeze on SEC ETFs impacts Solana, XRP, and Bitcoin investments: What comes after?
The U.S. Securities and Exchange Commission (SEC) has delayed decisions on several major crypto exchange-traded fund (ETF) proposals, including those tied to Bitcoin [BTC], Ethereum [ETH], Solana [SOL], Ripple [XRP], Litecoin [LTC], and Dogecoin [DOGE].
The SEC's cautious approach towards altcoins is evident in these delays, as the new deadlines for these ETF applications show. The Truth Social ETF application, which includes products tied to Bitcoin and Ethereum, has been pushed back to October 8, 2025. Solana ETFs, proposed by 21Shares and Bitwise, are expected to receive a decision by October 16, 2025. The XRP trust, proposed by 21Shares, has been extended until October 19, 2025.
The SEC's ongoing evaluation process requires additional time to thoroughly assess proposed rule changes, investor protections, market structures, and public comments. This reflects the SEC's commitment to due diligence given the complexities of digital asset products and the evolving regulatory landscape.
If Solana or XRP ETFs get approved, it could expand investor access and potentially drive up token demand. The demand for more crypto investment products in regulated markets is growing, as the U.S. currently has several spot Bitcoin and Ethereum ETFs, led by BlackRock's iShares Bitcoin Trust, which holds over $87 billion in assets.
However, Solana and XRP ETFs are still seeking their first-ever approval. The SEC's pattern of extending deadlines rather than outright rejections signals ongoing engagement but underscores regulatory caution given the novel risks and investor protection issues associated with crypto ETFs. This cautious stance creates investor uncertainty while the SEC continues detailed reviews ahead of potential institutional crypto adoption milestones.
Sources:
- [1] CoinMarketCap
- [2] sec.gov
- [3] Coindesk
- [4] Cointelegraph
- [5] Bloomberg
As we await the SEC's decisions, let's stay informed and patient. The world of crypto continues to evolve, and with it, the regulatory landscape. We'll keep you updated on any developments regarding these ETF applications.
**Update (August 2025)**
The SEC has also delayed decisions on Truth Social’s Bitcoin and Ethereum ETF, multiple XRP ETFs (including WisdomTree, CoinShares, Canary, and Grayscale), four Solana ETFs, and other altcoin ETFs such as Litecoin and Cardano. Grayscale’s Cardano ETF has seen its review extended until October 26, 2025. The XRP ETF decisions, including WisdomTree’s, are delayed until late October (e.g., October 24, 2025), with expectations that multiple XRP ETFs may be approved simultaneously this year.
Sources:
- [1] CoinMarketCap
- [2] sec.gov
- [3] Coindesk
- [4] Cointelegraph
- [5] Bloomberg
