The U.S. Securities and Exchange Commission (SEC) has delayed several crypto ETF rulings, including key proposals for XRP ETFs. In notices filed on August 18, the regulator extended review deadlines into October. These delays affect applications from 21Shares, Bitwise, CoinShares, and NYSE Arca.
Truth Social, Bitcoin, and Ethereum ETF Faces Delay
The SEC extended its review of the Truth Social Bitcoin and Ethereum ETF until October 8. NYSE Arca submitted the proposal on June 24. The trust aims to directly hold Bitcoin and Ether while issuing shares backed by both assets.
Although the ETF carries Truth Social branding, it mirrors other spot products in structure. The SEC is applying the same timeline used in previous reviews. The extension signals the agency’s cautious approach toward crypto-based investment vehicles.
Market analysts note that the decision follows a familiar pattern. Bloomberg ETF analyst James Seyffart observed that “the SEC typically takes the full time to respond.” Early approvals remain rare, and October now clusters with multiple pending rulings.
XRP ETFs and Solana Products Under Review
The SEC set October 16 for rulings on spot Solana ETFs filed by 21Shares and Bitwise. These products would hold Solana tokens directly, giving investors exposure without needing to buy the asset themselves. The move marks the first U.S. attempt at Solana-linked exchange-traded funds.
Separately, the SEC set October 19 as the new deadline for the 21Shares Core XRP Trust. The trust is designed to hold XRP and track its value, while providing investors a regulated access point. The SEC granted itself an additional 60 days before making a final decision.
In addition, CoinShares has an application for a spot Litecoin ETF under consideration. The SEC already pushed that deadline into the fall, aligning with other extensions. The regulator’s consistent delays highlight its deliberate evaluation of emerging crypto ETFs, including XRP ETFs.
Broader Trends in SEC Crypto ETF Reviews
The SEC has postponed several ETF rulings throughout the summer. In March, it delayed decisions on altcoin products tied to XRP, Litecoin, and Dogecoin. The regulator often cites the need for market analysis and public feedback before ruling.
Investors continue to monitor developments as the U.S. market now supports a dozen spot Bitcoin ETFs. Several Ether-based products are already live, while new applications target Solana, XRP, and other tokens globally, over 100 crypto-related ETFs trade across different exchanges.
BlackRock’s iShares Bitcoin Trust remains dominant, with assets surpassing $87 billion. Its success underscores the demand for regulated crypto exposure, but competing funds, including proposed XRP ETFs, await clarity. Until then, the SEC holds the pace of progress.
Summary
The SEC delayed decisions on multiple crypto ETFs, including XRP ETFs from 21Shares and CoinShares, pushing deadlines into October. The Truth Social Bitcoin and Ethereum ETF now awaits an October 8 ruling, while Solana and XRP products face October 16 and 19 deadlines. These delays follow a pattern of cautious SEC reviews across crypto ETF proposals, highlighting the regulator’s careful stance as investor demand grows.
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FAQs
What are XRP ETFs?
XRP ETFs are exchange-traded funds designed to hold XRP and give investors exposure through regulated shares.
Why did the SEC delay XRP ETFs?
The SEC extended the deadlines to allow further review, public input, and evaluation of the applications.
Which firms filed for XRP ETFs?
21Shares filed for the Core XRP Trust, while CoinShares also submitted proposals for crypto-based ETFs.
When are the new deadlines?
The SEC set October 8, 16, and 19 as new dates for different pending ETF applications.
Are other crypto ETFs already approved?
Yes, the U.S. market currently offers several spot Bitcoin and Ether ETFs, while altcoin products await approval.
Glossary of Key Terms
ETF (Exchange-Traded Fund): An ETF is an investment that trades on any stock exchange and invests in assets such as stocks, bonds, or cryptocurrencies.
XRP: a cryptocurrency released by Ripple, going to be used to send international payments quickly and cheaply.
Spot ETF: An ETF that does not purchase or sell derivatives or based on a futures contract, but instead buys the underlying.
SEC: The U.S. Securities and Exchange Commission that controls financial markets and securities products.
AUM (Assets Under Management): AUM is a number covering a total market value of assets under investment management of the company.
References
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