The United States Securities and Exchange Commission ( SEC ) has postponed the approval of several cryptocurrency-focused exchange-traded funds (ETFs) once again, extending the decision-making process for seven different ETF applications until October 2025. This delay stems from the need for further examination of regulatory changes these applications present.
Regulatory Process and Affected ETFs
Among the postponed ETFs are the Truth Social Bitcoin $115,478 and Ethereum $4,302 ETFs, several XRP ETFs, a Litecoin ETF, and an Ethereum ETF with staking features. According to the SEC’s announcement on August 18, 2025, the evaluation period for the Truth Social Bitcoin and Ethereum ETFs has been extended until October 8, 2025, due to the commission’s requirement for additional review time.
Similarly, the CoinShares XRP ETF, 21Shares Core XRP ETF, Canary XRP Trust, and Grayscale XRP Trust projects have been delayed in the same manner. Furthermore, the review period for the CoinShares Litecoin ETF and the 21Shares Core Ethereum ETF (with staking features) has been extended as well.
In a statement, the commission mentioned, “The Commission has determined that a longer review period is appropriate to have adequate time to decide whether to approve or disapprove the proposed rule changes.”
New Schedule and Negative Impacts
As per the new timeline, the deadline for Grayscale XRP Trust is set for October 18, 2025, for 21Shares Core XRP ETF on October 19, 2025, and for CoinShares XRP ETF and Canary XRP Trust on October 23, 2025. The CoinShares Litecoin ETF and 21Shares Core Ethereum ETF (with staking) also share the October 23, 2025, date.
The SEC’s decision follows its recent inaction on four Solana $182 ETF applications, indicating the agency’s tendency to subject similar applications to prolonged scrutiny. Consequently, this decision did not come as an unexpected development for market participants.
This postponement has also influenced ETF approval probabilities across various forecast platforms. For instance, the likelihood of the Litecoin ETF receiving approval by the year’s end dropped from 82% to 79%. Similarly, the probability of the XRP ETF being approved by the SEC fell to 77%, down from the previous day’s 77.6%.
As the October deadlines approach, the crypto industry closely monitors the situation, hoping for a more definitive decision. Ongoing delays create uncertainty in the decision-making processes of investors and project owners. However, if approved, these ETFs could pave the way for increased institutional interest in crypto assets.
