The SEC delayed rulings on multiple crypto ETF applications from major asset managers, including BlackRock and Franklin Templeton. The proposals involve products tied to Ethereum staking, Solana and XRP, with most new deadlines landing in November 2025 according to industry reports. The move adds uncertainty to crypto markets amid shifting expectations and regulatory signals.
Scope of the postponements
The commission postponed decisions on ETFs linked to Ethereum staking and spot altcoins, including Solana and XRP. In some cases, dates moved to October as well as November 2025. The SEC said a “listing framework” for crypto ETFs needs to be established and that additional reviews are required, a stance many see as combining regulatory caution with a push for uniform standards that could slow institutional adoption. A “listing framework” is the set of rules that a product and its underlying asset must meet to appear on a regulated exchange.
Deadlines and legal context
Most new deadlines fall in November 2025, with some shifted to October 2025 per Ainvest’s case summary. Cardano has a deadline in October 2025, according to data from market experts. They also note that the recent legal backdrop, citing the dismissal of the SEC’s case against Ripple in August 2025, which complicates the outlook for XRP-related ETFs.
Market impact and risk management
Reports from specialized media indicate the postponements have affected altcoins such as Solana and XRP, which showed price moves sensitive to regulatory expectations. The delays are pressuring sentiment and liquidity in those pairs, reflecting how policy shifts can reverberate through market positioning.
The pushback of decisions delays a potential wave of institutional inflows that some traders anticipated with ETF approvals. This raises the chance of volatility driven by speculative reactions, while ongoing regulatory uncertainty increases execution and liquidity risks around news events. Managers are advised to review exposure to the assets mentioned—ETH staking, SOL, XRP—and maintain flexibility in hedging and protective measures, while monitoring the updated timelines into November 2025.
The next key window is fall 2025—especially November—when updated deadlines come due. By then, the SEC must either maintain its standardizing stance or move to approve more advanced ETF structures, a decision that will shape market expectations and institutional participation in crypto-linked products.
