SEC Pushes Back Decisions on Ethereum Staking and Altcoin ETFs from BlackRock, Fidelity, Franklin Templeton

The U.S. Securities and Exchange Commission has again postponed rulings on multiple cryptocurrency exchange-traded fund (ETF) proposals, underscoring ongoing regulatory hesitation around digital assets.

In filings released Wednesday, the agency said it needs more time to evaluate rule changes that would permit staking in Ethereum ETFs submitted by heavyweights BlackRock, Fidelity, and Franklin Templeton. The SEC also delayed decisions on Franklin Templeton’s applications for ETFs tracking XRP and Solana, which were first filed in March.

Despite SEC Chair Paul Atkins’ past statements supportive of crypto innovation, the commission continues to defer final decisions. Meanwhile, issuers remain undeterred: Bloomberg Intelligence analyst James Seyffart noted that more than 90 crypto ETF proposals are awaiting approval. McKayResearch founder James McKay remarked on X that at this pace, “we’ll have one for every top 30–40 cryptocurrency inside 12 months, even with delays.”

Interest in Ethereum staking ETFs accelerated after the SEC’s Division of Corporation Finance indicated in May that some blockchain staking activities do not constitute securities offerings—a statement many interpreted as a green light for ETF staking features. Even so, last month the SEC delayed a similar request from Grayscale to add staking to its Ethereum fund.

Altcoin products remain a focal point. Bitwise CIO Matt Hougan predicts a strong year-end for Solana (SOL) as expectations grow for spot Solana ETFs to launch. Alongside Franklin and Bitwise, firms including Grayscale, VanEck, Fidelity, Invesco/Galaxy, and Canary Capital have all applied for spot Solana funds, awaiting the regulator’s next move.

The latest round of delays highlights both the SEC’s caution and the relentless demand from major financial institutions to broaden cryptocurrency ETF offerings beyond Bitcoin and Ethereum.