Crypto Assets ETF Progress: Rex-Osprey's multiple crypto ETFs approved while other issuers' applications face further delays, SEC regulatory stance shows divergence.

Several Crypto Assets ETF funds under Rex-Osprey, including XRP, DOGE, BONK, TRUMP, and Bitcoin ETF, have successfully passed the 75-day review period by the U.S. Securities and Exchange Commission (SEC) without any objections and are set to officially list this Friday. This move marks an important step for the regulated Crypto Assets market in the United States. However, at the same time, the SEC has delayed the review deadlines for similar ETF applications from other companies, such as Franklin, Bitwise, and BlackRock, to November, highlighting the complexity and cautious attitude of the current regulatory environment.

Multiple Crypto ETFs Under Rex-Osprey Are About to Be Launched

According to Bloomberg analyst Eric Balchunas, several crypto assets ETFs submitted by Rex-Osprey have successfully passed the SEC's review. According to regulations, if the SEC does not raise objections within the 75-day review period, the issuer can proceed with the listing on their own.

Fund list: This batch of upcoming funds includes REX-Osprey BONK ETF, TRUMP ETF, Bitcoin ETF, XRP ETF, and DOGE ETF.

Registration Path: These funds are primarily registered under the Investment Company Act of 1940 (40 Act funds), rather than following the route of the Securities Act of 1933 that previous Bitcoin spot ETFs adhered to. 40 Act funds do not directly hold spot Crypto Assets, but instead gain risk exposure through derivatives such as futures or swaps, allowing them to circumvent some regulatory hurdles and obtain approval more quickly.

Among them, the REX-Osprey DOGE ETF is particularly noteworthy, expected to become the first regulated Dogecoin fund in the United States, providing new investment avenues for retail and institutional investors.

Regulatory Review Discrepancies: Other ETF Applications Delayed

In sharp contrast to the smooth progress with Rex-Osprey, the SEC has been more cautious regarding ETF applications from other companies.

Franklin and XRP/Solana: The SEC has extended the review deadline for the Solana and XRP ETFs submitted by Franklin to November 14, 2025.

Bitwise and Dogecoin: The Dogecoin ETF application submitted by Bitwise has also been postponed until November 12, 2025.

BlackRock and Ethereum Join Staking Function: The SEC has also delayed BlackRock's request to add staking functionality to its Ethereum ETF, with the final decision date pushed to October 30.

These delays indicate that the SEC has taken a more stringent review approach toward certain emerging or complex digital asset products, particularly when involving new features like staking. This highlights the regulatory agency's cautious stance in balancing investor protection and market innovation.

Conclusion

The successful launch of the Rex-Osprey Crypto Assets ETF is undoubtedly an important step forward for the regulated crypto market in the United States, especially bringing new legitimacy to Meme coins like DOGE and BONK. However, the simultaneous delays of other funds also send a clear signal: although the regulatory environment is gradually opening up, the SEC's attitude is not one-size-fits-all. This "case-by-case review" model means that the future crypto assets ETF market will still be a slow and cautious process, with every new product facing strict scrutiny. Therefore, while the approval has brought optimism to the market, the regulatory discrepancies and uncertainties it reflects will still be key factors that investors need to closely monitor.