SEC Delays Crypto ETF Decisions for Staking and Altcoin Proposals
The U.S. SEC has put crypto ETF approvals on hold, citing the need for more time to evaluate staking and altcoin proposals. This move affects big players like BlackRock, Fidelity, and Franklin Templeton.
BlackRockS iShares Ethereum Trust faces a new deadline of October 30 for its Ethereum staking feature. Similarly, Fidelity’s Ethereum Fund and franklin Templeton’s proposals now await review until November 13. Over 90 crypto ETF applications remain pending.
The SEC explained the delays as necessary for thorough review. They stated, “Additional time is needed to consider the proposed rule changes and any related issues.”
- BlackRock’s proposal extended to october 30
- fidelity and Franklin Templeton’s deadlines set for November 13
- CBOE’s 21Shares Ethereum ETF now due by October 23
- Grayscale Ethereum ETF postponed to October 29
The SEC’s cautious approach primarily stems from concerns about custody, market manipulation, and investor protection in staking products and altcoin classifications. They are also working on Generic Listing Standards that could simplify the approval process.
Despite Trump’s crypto-amiable stance and the SEC Chairman’s support, the industry remains tense. Regulatory approval is critical for crypto adoption by mainstream investors,but the SEC’s conservative stance shows their commitment to ensuring robust protections.
