The US Securities and Change Fee (SEC) has delayed rulings on three high-profile crypto exchange-traded funds (ETFs), extending evaluate deadlines into October.
In notices filed Aug. 18, the company set new determination dates of Oct. 8 for NYSE Arca’s Reality Social Bitcoin and Ethereum ETF, Oct. 16 for 21Shares’ and Bitwise’s Solana ETFs, and Oct. 19 for the 21Shares Core XRP Belief.
The Reality Social Bitcoin and Ethereum ETF, submitted on June 24, is structured as a commodity-based belief holding Bitcoin (BTC) and Ether (ETH) straight and issuing shares backed by these property. Whereas branded beneath US President Donald Trump’s Reality Social platform, it capabilities like different spot Bitcoin and Ether ETFs already in the marketplace.
Cboe BZX additionally seeks approval for the primary US spot Solana ETFs by way of filings from 21Shares and Bitwise. These merchandise would maintain Solana (SOL) tokens and provides traders a safe strategy to acquire publicity to Solana’s worth efficiency.
A separate utility from 21Shares goals to launch the Core XRP Belief, designed to carry (XRP) and monitor its market worth. First filed in February and later amended, the belief was approaching its 180-day deadline on Wednesday earlier than the SEC granted itself an extra 60 days to evaluate.
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October shaping up as a giant month for ETF rulings
The latest ETF extensions usually are not out of the extraordinary. The SEC has been submitting ETF extensions all summer time, and lots of of them are shaping as much as be selected this fall.
In March, Cointelegraph reported that the SEC had delayed choices on a number of altcoin ETF proposals, together with merchandise tied to XRP, Litecoin (LTC) and Dogecoin (DOGE).
Amongst them was CoinShares’ utility for a spot Litecoin ETF, which might maintain LTC straight and difficulty shares backed by the token. Cointelegraph famous that the SEC’s extension positioned its deadline in the identical cluster of fall opinions as different altcoin filings.
Individually, the SEC prolonged its evaluate of Bitwise’s request to allow in-kind creations and redemptions for its spot Bitcoin and Ethereum ETFs. Now slated for September, that call would decide whether or not traders can trade ETF shares straight for the underlying crypto reasonably than money.
The SEC usually makes use of its full extension durations to guage new merchandise and acquire public suggestions. Bloomberg ETF analyst James Seyffart wrote in a post on X on May 20 that the SEC “usually takes the complete time to reply to a 19b‑4 submitting.” He added that “nearly all of those filings have last due dates in October,” and an early determination could be “out of the norm.”
Ether ETFs smash records as crypto products see $3.75B inflows
BlackRock dominates as ETF funds develop in recognition
The US market now counts a dozen spot Bitcoin ETFs, a number of Ether merchandise, and a rising roster of functions for SOL, XRP and different tokens. Globally, over 100 crypto-related ETFs are listed.
BlackRock’s iShares Bitcoin Belief dominates the sector, with greater than $87 billion in assets beneath administration (AUM). Its scale, liquidity and model energy have set it aside, drawing the majority of flows whereas rivals stay far smaller.
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