SEC delays decision on BlackRock and Franklin Templeton's ETF

The Securities and Exchange Commission of America (SEC) has just continued to delay decisions regarding several cryptocurrency ETF funds, including the filings of BlackRock and Franklin Templeton, according to documents released on Wednesday.

According to the new deadline, the SEC will review Franklin's amendment on staking Ethereum on November 13, while the ETF filings for Solana and XRP from this company will be decided on November 14. The proposal to allow staking in BlackRock's iShares Ethereum Trust is currently scheduled for a deadline on October 30.

The documents do not reveal the SEC's stance on each filing, only indicating that the agency needs more time to evaluate. The SEC has made the most of the extension framework allowed before having to make a final decision.

Franklin submitted filings for Ethereum, Solana, and XRP ETF products to the Cboe BZX exchange in mid-March, while Nasdaq received BlackRock's amended filing on July 16. According to the Securities Act, the SEC has 45 days to respond to a proposal, but this period can be extended to 90, 180, or even an additional 60 days in some cases.

The policy changes of the SEC under President Trump

Since President Donald Trump took office in January, the SEC's stance on digital assets has changed significantly. On July 31, SEC Chairman Paul Atkins announced the "Project Crypto" initiative, aimed at modernizing the legal framework and unifying the management of trading, lending, and staking of digital assets.

Speaking at the OECD Roundtable on Global Financial Markets in Paris, Atkins emphasized: "The era of crypto has arrived". However, despite the more open trend, the SEC continues to delay decisions related to ETFs, especially products linked to altcoins and staking.

Just one day prior, the SEC also postponed the deadline for the Bitwise Dogecoin ETF and Grayscale Hedera ETF filings, moving the review date to 12/11.

In August, this agency issued a series of extension decisions for pending applications, including:

• Bitcoin and Ethereum ETF of Truth Social on NYSE Arca, new deadline is 8/10.
• The Solana ETF from 21Shares and Bitwise has been postponed to 16/10.
• 21Shares Core XRP Trust, postponed to 19/10.
• WisdomTree XRP Fund on Cboe BZX, new deadline is 10/24.
• Canary PENGU ETF, postponed the ruling date to 12/10.

According to the report on August 29, the SEC currently has at least 92 cryptocurrency-related ETF proposals under review.

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