In a move that keeps the crypto world on its toes, the U.S. Securities and Exchange Commission (SEC) has opted to delay its verdict on several highly-anticipated cryptocurrency exchange-traded funds (ETFs). The new deadlines, now set for October 2025, include Truth Social’s ambitious Bitcoin-Ethereum ETF, Solana-focused offerings from 21Shares and Bitwise, as well as 21Shares’ innovative Core XRP Trust.
Regulatory Uncertainty Casts a Shadow
The SEC’s decision to punt these important determinations into October isn’t entirely shocking to industry insiders—yet it does cast a lingering pall over market sentiment. According to sources familiar with the matter, the regulatory body seems to be taking its time, likely in response to the complex and rapidly evolving nature of digital assets. “It seems the SEC is navigating uncharted waters,” says Clara Bennett, a seasoned crypto analyst at CryptoAdvisory. “The delay in decision-making might be a cautious approach to ensure all bases are covered.” For a deeper dive into the regulatory implications, see our coverage of the SEC’s latest guidance.
This postponement arrives against a backdrop of heightened scrutiny of cryptocurrencies and related financial products. With recent headlines dominated by high-profile crypto bankruptcies and fraud cases, the SEC’s hesitance is perhaps understandable. Yet, many in the sector are eager for clear-cut decisions that could bolster mainstream adoption.
The Market’s Mixed Reaction
Cryptocurrency markets, known for their volatility, showed a mixed response to the news. Bitcoin and Ethereum prices seesawed, reflecting traders’ uncertainty. Meanwhile, Solana and XRP tokens saw minor fluctuations, a sign that investors are wary but not panicking.
John Reed, an independent crypto trader, commented, “The SEC’s delay is frustrating, but not entirely unexpected. Investors are used to this kind of regulatory limbo.” He added, “While some might be disappointed, others see it as a chance to regroup and strategize.”
The market’s tepid reaction could also be attributed to the sector’s resilience, honed over years of regulatory ebb and flow. Many crypto enthusiasts remain optimistic, viewing the potential approval of these ETFs as a significant milestone for the industry. This follows a pattern of institutional adoption, which we detailed in our analysis of corporate treasury investments.
History Repeats Itself?
The SEC’s cautious approach isn’t new. Over the years, the agency has consistently approached crypto products with a similar level of scrutiny. Yet, the potential approval of these ETFs could herald a new era of institutional participation in crypto markets. According to Bennett, “If approved, these ETFs could open the floodgates for traditional investors who have been sitting on the sidelines.”
The Truth Social Bitcoin-Ethereum ETF, in particular, has garnered attention for its unique pairing of the two leading cryptocurrencies. Meanwhile, the Solana products from 21Shares and Bitwise, as well as the Core XRP Trust, could offer investors exposure to alternative digital assets, diversifying their portfolios beyond the usual suspects.
Looking Ahead
As October looms, the crypto community will be watching closely. The SEC’s eventual decisions could either pave the way for a new wave of crypto investments or prompt further delays that keep the market guessing. For now, the pause button remains firmly pressed.
Bennett remains cautiously optimistic, “The SEC’s decision, whether for or against, will be pivotal. It could set a precedent and potentially shape the future of crypto regulation.”
The coming months are sure to be filled with conjecture, analysis, and perhaps a bit of nail-biting. As the crypto world awaits the SEC’s next move, one thing is clear: the regulatory landscape is as dynamic and unpredictable as the assets it seeks to govern. Whether this trend of delays continues or the SEC ultimately gives the green light, the implications will be profound. Keep those eyes peeled—October will be here before we know it.
Source
This article is based on: SEC pushes back decisions on Truth Social, Solana, XRP crypto ETFs
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
