SEC punts decision on crypto ETFs again, final rulings anticipated later in 2025

The US Securities and Exchange Commission postponed decisions connected aggregate crypto-related exchange-traded money (ETF) applications connected May 13, including those filed by Grayscale and BlackRock. 

The delays widen the agency’s reappraisal timeline and align with expectations that it volition assistance nary approvals earlier the last 4th of 2025.

Grayscale’s projected spot ETFs for Solana (SOL) and Litecoin (LTC) were deferred. The caller filing deadlines for some are August 11 and October 10. 

The SEC besides delayed enactment connected BlackRock’s petition to alteration in-kind redemptions for its approved spot Bitcoin (BTC) ETF. BlackRock’s petition has nary updated deadline, which centers connected method mechanics alternatively than archetypal approval.

Separately, the SEC acknowledged the 19b-4 filing for a 21Shares spot Dogecoin (DOGE) ETF, initiating the authoritative reappraisal timeline for the product. This filing begins the countdown toward an eventual determination nether the agency’s statutory schedule.

Decisions expected aboriginal this year

The agency’s latest moves travel a broader signifier of staggered reviews crossed much than 70 crypto ETF proposals, which stay successful assorted valuation stages. On April 29, the SEC delayed decisions connected 5 different crypto-related ETFs.

Bloomberg ETF analysts James Seyffart and Eric Balchunas described the existent rhythm of delays arsenic routine. 

Seyffart said the hold was “expected,” and astir of the affected products look last deadlines nary earlier than October. 

Balchunas added that the SEC is improbable to contented substantive approvals until precocious confirmed Chair Paul Atkins completes interior meetings and strategy sessions with staff. 

He said: 

“They’ve been taking extracurricular meetings with people. Probably coming up with a strategy. After that, apt approvals.”

Regulatory roadmap

SEC decisions connected crypto ETF applications travel a multi-stage statutory process based connected the work of projected regularisation changes successful the Federal Register.

The bureau typically operates connected reappraisal intervals of 45, 90, 180, and 240 days, allowing aggregate opportunities to hold decisions earlier reaching a last deadline.

The regulator’s caller actions are accordant with its humanities signifier of extending reviews to the afloat statutory limits earlier issuing decisions. 

No ETF successful this radical faces a last deadline earlier precocious successful the 3rd quarter, leaving applicants and investors awaiting further clarity connected the regulatory trajectory for crypto-linked concern vehicles.

The station SEC punts determination connected crypto ETFs again, last rulings anticipated aboriginal successful 2025 appeared archetypal connected CryptoSlate.