The U.S. Securities and Exchange Commission (SEC) has once again postponed its decision on spot ETFs

The U.S. Securities and Exchange Commission (SEC) has once again postponed its decision on spot ETFs for the 21Shares XRP Trust, Grayscale Dogecoin Trust, and Bitwise’s proposal to add staking to its ETH ETF.

The U.S. Securities and Exchange Commission (SEC) has pushed back its ruling on spot ETFs for the21Shares XRP Trust, Grayscale Dogecoin Trust, and Bitwise’s proposal to add staking to its ETH ETF.

The U.S. Securities and Exchange Commission (SEC) has pushed back its ruling on spot ETFs for the21Shares XRP Trust, Grayscale Dogecoin Trust, and Bitwise’s proposal to add staking to its ETH ETF.

All applications are now due on July 2025. However, there is a good chance these requests will be postponed until October, as the SEC continues to take a cautious approach in evaluating spot ETFs.

Regulatory Delays & Market Impact

The SEC’s latest delay follows a pattern of extended review periods for crypto-related ETFs. The commission stated that it needs more time to assess the proposals and their compliance with investor protection regulations.

While Bitcoin and Ethereum spot ETFs were approved last year, altcoin ETFs are still under scrutiny, with regulators considering the risks of market manipulation and fraud prevention.

From a speculative perspective, there is a high probability that the Commission is aiming to stall until its crypto task force completes its assessment of broader digital asset regulation. Considering the SEC’s history of lengthy decision timelines, it’s likely the agency is postponing ETF approvals to align with future regulatory frameworks or new enforcement strategies.

The SEC is also accepting public comments on the matter, which you can contribute to here if you wish to see this application progress faster.

According to the SEC, NYSE Arca, Inc. submitted a proposal to add the possibility of staking to the Bitwise Ethereum ETF on March 20, 2025. As per Section 19(b)(2) of the Securities Exchange Act, the SEC had 45 days to respond to, and approve or disapprove, the proposal. However, the Commission has now decided to extend the period of time to respond from July 6, 2025.

The SEC’s delay does not necessarily mean rejection, but it does indicate a cautious approach by regulators towards approving altcoin ETFs. Analysts anticipate October as the earliest time frame for final approvals, depending on the SEC’s assessment of market risks and investor protections.