After a busy summer of crypto ETF filings, the U.S. Securities and Exchange Commission (SEC) has officially pushed several decisions into October 2025.These delays span proposed spot XRP and Litecoin ETFs,an Ethereum ETF staking amendment and a dual asset Bitcoin & Ethereum product.Below,I break down what moved,why it happened and what to watch next.
TL;DR
- The SEC extended decision deadlines on multiple crypto ETF proposals to October 8–23, 2025, citing the need for more time to evaluate issues raised in the filings.
- Affected proposals include Grayscale XRP Trust, 21Shares Core XRP Trust, Canary XRP Trust, CoinShares XRP ETF, CoinShares Litecoin ETF, 21Shares Core Ethereum ETF staking amendment, and Truth Social Bitcoin & Ethereum ETF, B.T.
What exactly got delayed?
Here are the newly designated decision dates (the last day by which the SEC must decide or start proceedings to potentially disapprove):
- Truth Social Bitcoin and Ethereum ETF, B.T. (NYSE Arca) → October 8, 2025.
- Grayscale XRP Trust (NYSE Arca) → October 18, 2025.
- 21Shares Core XRP Trust (Cboe BZX) → October 19, 2025.
- CoinShares XRP ETF (Nasdaq) → October 23, 2025.
- Canary XRP Trust (Cboe BZX) → October 23, 2025.
- CoinShares Litecoin ETF (Nasdaq) → October 23, 2025.
- 21Shares Core Ethereum ETF rule change to permit staking (Cboe BZX) → October 23, 2025.
These dates come directly from the SEC’s “Notice of Designation of a Longer Period” orders, which are the standard mechanism the Commission uses to extend the statutory review clock.
For a concise news roundup,BeInCrypto’s recap aligns with the above SEC notices.
Why did the SEC delay (again)?
Under Section 19(b)(2) of the Securities Exchange Act,the SEC can extend review periods to ensure it has “sufficient time to consider the proposed rule change and the issues raised.”Each of the orders explicitly cites this rationale.Practically,here’s what that means:
- Market surveillance & manipulation concerns:For spot crypto products (e.g., XRP, LTC) the SEC typically evaluates whether the listing exchange has adequate surveillance-sharing agreements and whether the underlying market resists manipulation to a degree consistent with past approvals.
- Novel mechanics (staking): The 21Shares Core Ethereum ETF amendment seeks permission to stake a portion of the ETF’s ETH.Staking introduces operational, counterparty and reward penalty dynamics that differ from simple asset custody points the SEC is parsing before making a call.
- Dual asset structure: The Truth Social Bitcoin & Ethereum ETF, B.T. combines exposure to two assets under a commodity based trust share structure another design choice the SEC wants more time to evaluate.
What does this mean for investors and the market?
- No immediate launches:None of the products above can list until the SEC issues an approval order.The new deadlines merely push the decision windows into mid to late October.
- Event driven volatility: Crypto markets often react around hard deadlines.Expect headline sensitive price action as each date approaches (Oct 8,then Oct 18–19,then Oct 23).
- Read through from past approvals: Prior approvals (e.g., spot Bitcoin and spot Ethereum ETFs) showed the SEC can green light crypto ETPs when exchanges demonstrate sufficient market integrity and surveillance.But each asset and rule change is evaluated on its own record,especially for assets like XRP or structures like staking.
Key dates to watch (bookmark this)
- Oct 8, 2025: Truth Social Bitcoin & Ethereum ETF, B.T. (NYSE Arca).
- Oct 18–19,2025: Grayscale XRP Trust (NYSE Arca) on the 18th;21Shares Core XRP Trust (Cboe BZX) on the 19th.
- Oct 23,2025:CoinShares XRP ETF (Nasdaq),Canary XRP Trust (Cboe BZX),CoinShares Litecoin ETF (Nasdaq),21Shares Core Ethereum ETF staking amendment (Cboe BZX).
How to think about outcomes
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Approval:
Likely conditional on robust surveillance sharing agreements and clear custody/disclosure frameworks.For staking,expect strict limits,disclosures on slashing risk,validator selection and reward treatment.
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Disapproval:
Would likely cite market manipulation risks,insufficient correlation/surveillance between the listing exchange and the underlying spot markets or unresolved concerns about staking mechanics (where applicable).
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Proceedings to disapprove (another extension step):
The SEC can “institute proceedings” as a formal step before a final disapproval. It’s a sign the Commission wants a deeper public record not a guaranteed “no.”
Bottom line
The October 2025 cluster is now the next major milestone for U.S. crypto ETPs beyond BTC and ETH.Whether the market gets its first spot XRP or Litecoin products,a dual BTC-ETH trust or an ETH ETF with staking will hinge on how convincingly issuers and exchanges address the SEC’s surveillance,market integrity and operational concerns in the coming weeks.
If you follow or invest in these assets,mark the dates,watch for new amendments or comment letters and be prepared for headline driven moves as decisions land.