SEC Pushes Decision on Franklin’s Solana ETF to Nov. 14 as Backlog
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Anas Hassan
Crypto Journalist
Anas Hassan
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Anas is a crypto native journalist and SEO writer with over five years of writing experience covering blockchain, crypto, DeFi, and emerging tech.
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September 11, 2025
The Securities and Exchange Commission (SEC) extended its decision deadline for Franklin Templeton’s Solana and XRP ETF proposals to November 14, using the maximum 60-day extension authority before issuing final rulings.
The regulator also postponed BlackRock’s iShares Ethereum Trust staking amendment to October 30, adding 45 days to the original timeline.
SEC Needs More Time to Decide.
SEC filings indicate the agency needs “sufficient time to consider” the proposals without revealing approval or denial leanings. The delays follow Chair Paul Atkins’ July 31 “Project Crypto” initiative, designed to modernize securities rules and unify digital asset frameworks.
Franklin’s Cboe BZX filings for Ethereum, Solana, and XRP products were submitted in mid-March, while Nasdaq filed BlackRock’s Ethereum staking amendment on July 16. The extensions represent standard regulatory procedure under Section 19(b) of the Securities Exchange Act.
Bloomberg analysts project over 95% probability for Solana and XRP ETF approvals this year despite continued delays.
Prediction markets support institutional optimism with Solana ETF approval odds reaching 99% on Polymarket.
The postponements contribute to a growing backlog, with 92 crypto ETF applications awaiting SEC review as of August 29.
Recent delays encompass Bitwise Dogecoin ETF, Grayscale Hedera Trust, Truth Social Bitcoin and Ethereum ETF, and multiple altcoin proposals.
Additionally, Grayscale’s Hedera Trust was pushed to November 12, and various XRP, Dogecoin, and Litecoin proposals are scattered across October and November deadlines.
Strategic Delay Pattern Points to Generic Listing Overhaul.
Bloomberg Senior ETF Analyst Eric Balchunas attributes delays to SEC coordination with generic listing standards requested by Cboe and NYSE in July.
The exchanges proposed amendments allowing automatic crypto ETF listings without case-by-case regulatory review. Current guidelines require separate proposed rule changes for each crypto ETF application, creating a 240-day review process.
Generic listing standards would eliminate rigorous evaluation requirements for certain products meeting predetermined criteria.
Balchunas expects “flood of ETFs probably in a couple months” following generic standards approval anticipated in early October.
The streamlined process would accelerate multiple product launches simultaneously, rather than staggered separate approvals.
ETH staking integration appears likely with the SEC’s openness to “working with issuers and solving problems” under the current leadership.
BlackRock has argued since May that Ethereum ETFs remain incomplete without staking functionality enabling yield generation.
The regulator previously delayed 21Shares Core Ethereum ETF staking decisions alongside the Trump media company Truth Social’s proposals.
Industry giants, including Grayscale and 21Shares, maintain applications for Ethereum staking ETFs while pursuing trust-to-ETF conversions for existing altcoin products.
Grayscale seeks authorization for Litecoin, Solana, Dogecoin, XRP, and Avalanche ETF structures.
Institutional Momentum Builds Amid...
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