The U.S. Securities and Exchange Commission (SEC) has once again delayed rulings on several cryptocurrency ETF applications involving staking. In its Wednesday filings, the regulator said it requires more time to review proposals from BlackRock, Fidelity, and Franklin Templeton that would add staking features to Ethereum ETFs.
Franklin Templeton’s spot ETF applications for XRP and Solana have also been pushed back. While SEC Chairman Paul Atkins has voiced support for digital assets, the agency continues to delay decisions on many crypto-related funds.
Meanwhile, new ETF applications continue to flow in. According to Bloomberg Intelligence analyst James Seyffart, more than 90 crypto ETFs are currently awaiting SEC approval. Researcher James McKay noted that, at this pace, there could be ETFs for nearly every top-40 cryptocurrency within a year.
The question of staking remains key. In May, the SEC’s Division of Corporation Finance stated that certain staking activities do not constitute securities offerings, fueling expectations that staking-enabled ETFs would be approved. Yet, decisions on proposals from both BlackRock and Grayscale remain pending.
As for XRP and Solana, Franklin Templeton’s applications are still in limbo. Bitwise CIO Matt Hougan recently said he expects a strong year-end for Solana, anticipating ETF approvals soon. Alongside Franklin, firms such as Grayscale, VanEck, Fidelity, Invesco/Galaxy, and Canary Capital have also applied for Solana ETFs in the U.S.
