The delays were deemed as expected by Eric Balchunas and James Seyffart, with most altcoin-related ETFs being approved by the SEC only at the last deadline.
The US Securities and Exchange Commission (SEC) delayed decisions on five crypto-related exchange-traded fund (ETF) applications on April 29, a move Bloomberg ETF analysts James Seyffart and Eric Balchunas had anticipated.
The postponements have affected the spot Solana (SOL) and XRP ETFs by Franklin Templeton, the Grayscale spot Hedera (HBAR) ETF, the Bitwise spot Dogecoin (DOGE) ETF, and the staking provisions linked to the Fidelity spot Ethereum (ETH) ETF.
Seyffart stated:
“This is expected IMO. Final deadlines for most of this stuff is in October 2025 or later.”
He also acknowledged the possibility of further delays this week, as the SEC faces upcoming deadlines for approximately 72 crypto ETFs awaiting approval.
Balchunas noted that the SEC was unlikely to make any decisions on the matter until Chair Paul Atkins officially took office, which happened very recently.
“They’ve been taking outside meetings with people. Probably coming up with a strategy. After that, likely approvals.”
He added:
The SEC typically follows a series of statutory deadlines—45, 90, 180, and 240 days after publishing a 19b-4 filing in the Federal Register—before making decisions on crypto ETF applications.
Bloomberg ETF analysts noted that many of the delayed products still face their final deadlines between the third and fourth quarters, based on the ETF approval calendar they compiled.
The updated calendar indicates that the SEC will issue a final decision on the Franklin Spot XRP ETF by November 5, 2025, and expects to rule on the Franklin Spot Solana ETF by October 7, 2025.
Grayscale and Bitwise plan to meet the final deadlines for their Hedera and Dogecoin ETFs on October 8, 2025. Fidelity has already completed the earlier stages of its Ethereum staking proposal by April 2025, while the remaining provisions are still under review.
The SEC routinely delays decisions to extend its evaluation timeline while avoiding outright denials.
