SEC Delays Staking Spot ETH, XRP and SOL ETF Decisions
The SEC has postponed decisions on multiple Spot ETH ETF applications proposing staking features. Major asset managers including BlackRock, Fidelity and Franklin Templeton now await SEC rulings through mid-November.
The regulator also delayed reviews for XRP ETF and SOL ETF proposals, adding to a backlog of over 90 crypto ETF filings. Earlier postponements affected Grayscale’s ETH staking ETF, Bitwise Dogecoin and Grayscale Hedera products.
These delays reflect SEC caution over market stability, investor protection and the complexity of crypto staking. Meanwhile, the SEC’s Corporate Finance division indicated some blockchain staking does not constitute securities issuance.
At an OECD event, SEC Chair Paul Atkins unveiled “Project Crypto” to standardize token trading, lending and staking rules, and floated a generic ETF listing proposal to accelerate crypto ETF launches.
Despite the setbacks, analysts like Bloomberg’s Eric Balchunas see high odds of Spot ETH ETF approval by year-end. Industry experts remain optimistic: Bitwise’s Matt Hougan highlights SOL prospects, while James McKay predicts dedicated ETFs for the top 30–40 coins within 12 months.
Bearish
Repeated SEC delays on Spot ETH ETF and related staking approvals are likely to curb immediate buying enthusiasm for ETH-based ETFs, putting short-term downward pressure on ETH prices. Similar deferrals for XRP ETF and SOL ETF proposals may also dampen inflows for these tokens.
However, the SEC’s efforts to standardize a regulatory framework through Project Crypto and the high odds of year-end approvals cited by analysts provide long-term support. Balancing these factors, the immediate impact is bearish.