Catenaa, Monday, September 15, 2025- The Securities and Exchange Commission extended its review of Franklin Templeton’s Solana and XRP ETF proposals to November 14, citing the need for additional consideration before issuing final rulings.
The regulator also postponed BlackRock’s iShares Ethereum Trust staking amendment to October 30, adding 45 days to its timeline.
Franklin submitted filings for Ethereum, Solana, and XRP ETFs in mid-March, while BlackRock filed the Ethereum staking amendment on July 16. The extensions follow standard regulatory procedure under Section 19(b) of the Securities Exchange Act. Analysts predict over 95% probability of Solana and XRP ETF approvals this year, supported by prediction markets showing Solana approval odds at 99%.
The SEC backlog now includes 92 crypto ETF applications awaiting review, with recent delays affecting Bitwise Dogecoin, Grayscale Hedera Trust, and Truth Social Bitcoin and Ethereum proposals.
Bloomberg analysts attribute delays to coordination on generic listing standards proposed by Cboe and NYSE, which could allow automatic ETF approvals without individual reviews. The approval of these standards is expected in early October, potentially triggering multiple simultaneous launches.
BlackRock and other issuers have emphasized Ethereum staking integration to enable yield generation. U.S. markets lag behind Canada and Europe, which already offer staking-enabled crypto ETFs.
Institutional demand remains strong, with Bitcoin spot ETFs seeing $757 million in net inflows and Ethereum spot ETFs recording $172 million, led by BlackRock’s ETHA at $74.5 million. The pattern of systematic delays suggests a broader regulatory strategy rather than individual application concerns.
