The SEC’s latest move to delay its decision on several proposed cryptocurrency exchange-traded funds (ETFs), including one focused on XRP, adds to ongoing regulatory uncertainty in the crypto market. This decision affects offerings linked to Truth Social, Solana, and prominent issuers like 21Shares and Bitwise, pushing their potential approval timelines into October.

The Core XRP Trust, filed by 21Shares, is among the products impacted by this deferral. The SEC announced that it requires additional time to review the proposed rule change tied to the listing of this XRP-based ETF on the Cboe BZX Exchange. As a result, the new target date for a final decision is set for early October.

Similarly, the regulator also postponed decisions on other major filings. This includes the Bitwise Bitcoin and Ether Market Cap Weight Strategy ETF and the Futures ETFs proposed by Tuttle Capital Management. These offerings are notable not only due to their crypto exposure but also because they’re tied to Trump’s social media network, Truth Social, via Trump Media & Technology Group.

The application for the XRP ETF by 21Shares was initiated in March 2024. The initial filings indicated a growing interest in bringing single-asset crypto ETFs beyond Bitcoin and Ether into the U.S. market. Although both BTC and ETH ETFs have recently cleared regulatory hurdles, altcoins such as XRP and Solana still face scrutiny. The SEC’s delay is consistent with its cautious approach to crypto regulation, particularly when dealing with non-Bitcoin digital assets.

The Solana ETFs from 21Shares and Bitwise — submitted in June — are also in regulatory limbo. Market observers view these filings as strategic moves to expand crypto offerings and give investors diversified exposure. For now, however, the path to approval remains unclear, especially amid ongoing legal and market debates surrounding certain digital currencies’ status as securities.

SEC has extended deadlines for several crypto ETF proposals, including XRP.

Crypto advocates view the SEC’s hesitation as a reflection of the agency’s inconsistent posture. Earlier this year, courts ruled that crypto asset manager Grayscale could move forward with its Bitcoin ETF product — a catalyst that many thought would pave the way for other digital asset ETFs, including those focused on XRP. Despite this legal momentum, Ethereum and Bitcoin continue to be the only coins with active ETF trajectories in the U.S.

One possible reason for the delay is the complex nature of XRP’s regulatory status. Although Ripple has seen favorable court rulings suggesting that XRP itself is not a security, the SEC has not fully relented in its enforcement efforts. These unresolved issues likely contribute to the agency’s reluctance to approve an XRP-based ETF at this time.

Related: XRP Price: $12M Max Pain for Bears

Industry insiders maintain cautious optimism. Should the SEC ultimately approve these products, it would mark a significant expansion in the types of digital assets accessible through traditional financial systems. Until then, stakeholders must wait until October, when the regulatory body expects to deliver its final decision on the XRP ETF and others.