The SEC has once again postponed the approval of multiple cryptocurrency ETFs, with Ethereum staking and the XRP and SOL spot cases pending.

The U.S. Securities and Exchange Commission (SEC) announced on September 10 that it will postpone its decision on three cryptocurrency ETF applications related to staking and altcoins, including BlackRock's Ethereum (ETH) staking ETF and Franklin Templeton's spot Ripple (XRP) and Solana (SOL) ETFs. This move suggests that these products may receive rulings in the "collective batch" approval window in October.

Delay in Decision and October Approval Window

The SEC's delay in approving three ETF applications, which the market originally expected to be decided in September, will now enter the decision period in October along with several other applications. Bloomberg ETF analyst James Seyffart pointed out in April that October could see a wave of approvals for crypto ETFs, at which point some of the over 90 applications will reach their deadlines.

The universal listing framework is brewing

The SEC is collaborating with multiple exchanges in the United States to develop a standardized listing framework for token-based ETFs aimed at simplifying the approval process. This framework will allow tokens that meet specific market capitalization, trading volume, and liquidity thresholds to undergo a 75-day review directly through an S-1 registration statement, without the need to submit a 19b-4 rule change application on a case-by-case basis.

This system reform is expected to shorten the approval time, reduce the back-and-forth communication cycles between institutions and regulatory bodies, and pave the way for the launch of more Crypto Assets ETFs.

Meme Coin ETF Could Become a Catalyst

On September 9, ETF analyst Eric Balchunas stated, "The era of meme coin ETFs is about to begin," and revealed that the first Dogecoin (DOGE) ETF will be listed on September 11 under the 40 Act framework.

Although DOGE was originally created as an internet meme, the successful launch of its ETF may bring broader approval momentum for other pending crypto ETFs (including XRP, SOL, LTC, etc.).

92 applications cover a variety of assets

Currently, the SEC is reviewing 92 cryptocurrency ETF applications, covering everything from established crypto assets (such as BTC, ETH, XRP, SOL, LTC) to emerging tokens, as well as staking versions of existing products. Major applicants include VanEck, Grayscale, Canary, Bitwise, and Franklin Templeton, demonstrating strong institutional interest in the cryptocurrency ETF market.

Conclusion

The SEC has postponed its decision on the Ethereum staking ETF and the spot XRP and SOL ETFs. Although this has temporarily delayed market expectations, with the implementation of the universal listing framework and the approaching approval window in October, the crypto ETF market may witness a concentrated explosion period. Investors need to closely monitor the SEC's next steps, as they will directly affect institutional adoption and market liquidity of crypto assets. For more real-time regulatory and market analysis, please follow the official Gate platform.