- BlackRock’s iShares Ethereum Trust staking proposal faces another SEC delay, now pushed to October 30.
- Franklin Templeton and Fidelity’s Ethereum staking ETF amendments were also extended into November reviews.
- Over 90 crypto ETF applications await SEC rulings, indicating rising demand despite prolonged regulatory hurdles.
The U.S. Securities and Exchange Commission has once again delayed action on staking features for BlackRock’s iShares Ethereum Trust. The asset manager had requested permission to include staking, allowing the fund to generate yields by validating Ethereum’s proof-of-stake network.
According to SEC filings, the decision has now been pushed to October 30, with no indication of the commission’s position. The delay highlights the ongoing regulatory uncertainty surrounding crypto exchange-traded funds, even as institutional filings continue to multiply.
Multiple Firms Face Setbacks in Staking Proposals
The SEC also extended deadlines for Ethereum staking amendments submitted by Franklin Templeton and Fidelity. Franklin Templeton’s amendment will now be reviewed by November 13, while its spot XRP and Solana ETF filings face deadlines on November 14.
Nasdaq submitted BlackRock’s staking proposal on July 16, while Franklin’s applications were filed with Cboe BZX in March. Notably, the SEC has the authority under Section 19(b) of the Securities Exchange Act to delay proposed rule changes for up to 180 days.
In some cases, extensions can stretch by an additional 60 days, allowing the agency to fully review market and investor feedback. This legal mechanism has slowed several ETF applications across staking and altcoin products.
Over 90 Crypto ETF Applications Await Decisions
The broader ETF pipeline remains crowded. According to Bloomberg Intelligence analyst James Seyffart, more than 90 crypto ETF proposals are now pending with the SEC. These filings span spot products, staking amendments, and altcoin linked funds.
On Wednesday, the SEC also postponed reviews for the Bitwise Dogecoin ETF and Grayscale’s Hedera ETF, setting new deadlines for November 12.
Delays have not deterred issuers from pursuing approvals. Franklin Templeton, Bitwise, Grayscale, VanEck, Invesco/Galaxy, Canary Capital, and others have filed for Solana ETFs, with industry participants anticipating eventual launches. Franklin Templeton first submitted its XRP and Solana filings in March, underscoring the steady stream of applications despite repeated extensions.
SEC Balances Crypto Initiative With Extended Reviews
The regulatory agency has shifted its posture under Chairman Paul Atkins, who launched “Project Crypto” in July to modernize digital asset oversight. Speaking at the OECD Roundtable in Paris, Atkins said, “Crypto’s time has come,” highlighting the commission’s broader agenda. However, the SEC has maintained a cautious approach in approving ETF rule changes, often using the maximum review periods available.
This balancing act leaves asset managers waiting. While Atkins’ initiative emphasizes a framework for digital asset trading, lending, and staking, ETF decisions remain under delay. As of late August, the SEC had extended review periods for numerous products, including filings tied to XRP, Solana, and even Trump Media’s Truth Social-linked funds.
