Will the SEC’s Crypto ETF Delays Be a Boon? Preparing for a Mass Approval in October

Main Points :　

• The SEC has delayed decisions on several high-profile crypto ETFs (including ETH staking, XRP, SOL) — while this seems negative short-term, it may signal the agency is putting in place a unified framework for approving many ETFs at once in October.
• A large backlog (~90+) of crypto ETF applications is under review; many with altcoins beyond BTC/ETH. Delays push decision deadlines into October or November.
• The SEC is proposing generic listing standards (criteria) that would speed up approval, reduce process time from ~240 days to ~60–75 days, similar to frameworks used in traditional ETF regulation.
• Market sentiment (and price action) around tokens like XRP, SOL, etc., is increasingly tied to expectations from the SEC’s regulatory shifts and potential ETF approvals. Odds for some approvals are seen as high (> 90%).
• Institutional interest and the potential efficiency gains (cost, transparency) are large if the framework becomes stable — this could be the next growth driver for altcoin adoption, custody services, staking products, etc.

1. Background: What Has Happened So Far

Over the recent weeks, the U.S. Securities and Exchange Commission (SEC) has postponed decisions on multiple cryptocurrency-related ETF (exchange-traded fund) applications. The affected funds include BlackRock’s proposal for an Ethereum (ETH) staking ETF, and Franklin Templeton’s spot (i.e., holding underlying asset) ETFs for Ripple (XRP) and Solana (SOL). These delays come amid reports that the SEC is preparing a comprehensive listing framework for token-based crypto ETFs. Under that framework, assets meeting certain criteria (market cap, trading volume, custody, futures markets, surveillance agreements, etc.) might be eligible to be listed under streamlined rules rather than via bespoke approval processes. This appears to set the stage for a possible mass batch of approvals in October, as many applications are now pushed to decision deadlines in that month.

2. The Backlog: How Many ETFs, What Tokens, What Deadlines

• Quantity: Roughly 90+ crypto ETF/ETP proposals are now pending with the SEC.
  
• Key Tokens Beyond BTC/ETH: Solana (SOL), Ripple/XRP (XRP), Litecoin (LTC), Dogecoin (DOGE), sometime SEI, etc. Many of these are for “spot” exposure.
  
• Deadlines Delayed: Many decisions have been pushed into October 2025. For example, the Truth Social BTC/ETH ETF (Oct 8), Solana ETFs (Oct 16), 21Shares Core XRP Trust (Oct 19), covers also filings for LTC, DOGE. Some items are delayed even later (e.g. Franklin ETH staking amendment to November).
  

3. Emerging Regulatory Frameworks: Generic Listing Standards & Unified Rules

To deal with the large and growing number of ETF applications, the SEC (together with major exchanges: Nasdaq, NYSE Arca, Cboe BZX) is working on generic listing standards. Under these, certain tokens that satisfy predefined criteria may list without need for individual, bespoke rule-change applications.

Some proposed criteria include:

• Token is traded on an exchange that is part of the Intermarket Surveillance Group (ISG), or surveillance sharing exists.
• There’s an established futures market for that token on a regulated contract market for at least six months.
  
• Exposures and transparency benchmarks (e.g. net asset value disclosure, in-kind creation/redemption, surveillance, custody standards) are met.
  

If adopted, these generic standards could reduce the approval process for eligible ETFs from ~240 days (or more, including extensions) to as short as 60–75 days.

4. Market & Token Implications: Pricing, Sentiment, Institutional Impact

• Sentiment and Price Movements: Tokens like XRP have been volatile but generally rising on expectations. Bloomberg analysts place the probability of XRP spot ETF approval by year-end as ~90% or higher.
  
• Institutional Interest: With clearer and more efficient paths to ETF approvals, institutional capital (pension funds, asset managers) is likely to increase flows into altcoins, not just BTC/ETH. Custody providers, staking platforms, and related infrastructure may see big demand.
• Operational Efficiencies: Approvals of “in-kind creations/redemptions” (i.e., allowing ETF shares to be created/redeemed by exchanging the underlying crypto rather than cash) have already been allowed for some Bitcoin/Ethereum ETPs. This reduces costs and slippage.
  

5. Risks, Uncertainties, and What to Watch

• The framework is not yet finalized; SEC still has open comment periods and regulatory steps to take. Delays could continue if disagreements, legal challenges, or concerns about market manipulation, custody, or surveillance persist.
• Some filings have been extended beyond October (to November) — meaning October may see some approvals, but not necessarily all.
  
• Token-specific risks remain: liquidity, futures market development, custody risk, regulatory clarity in states, etc. Even with ETF approval, price impact is not guaranteed.

6. Recent Related Moves / Additional Data

• The SEC has published a rulemaking agenda aiming to modernize crypto regulations, including clearer rules for the offer/sale of digital assets, regulatory safe harbors, and allowing crypto to be more integrated into traditional market structures.
  
• “Project Crypto,” an SEC-wide initiative, seeks to bring together trading, staking, lending, etc., under more coherent oversight.
  
• The market has responded by speculating heavily on October deadlines; platforms like Polymarket, etc., show strong odds for many altcoin ETFs being approved. This speculation itself can reinforce momentum.
  

What Could It Mean: Practical Use‐Case Scenarios & Business Opportunities

For people interested in discovering new cryptos or building revenue streams / blockchain applications, here are potential implications:

• New Investment Products: If approvals come, many altcoin ETFs may launch (SOL, XRP, LTC, etc.). That means more ways for institutional and retail investors to get exposure without touching exchanges or wallets directly.
• Staking & Custody Services Boom: Since staking‐related ETFs (e.g., ETH staking) are in view, infrastructure providers for secure staking, cold storage, custody risk management will be in demand.
• Tokenomics & DeFi Integration: Tokens that are more likely to meet criteria (futures markets, surveillance, ISG membership, etc.) may see projects align more with those needs (e.g. working to get futures contracts, partnerships with exchanges) to increase ETF eligibility.
• Regulatory and Compliance R&D: Lawyers, compliance teams, firms will need to adapt to the new listing standards, build processes for audits, transparency, surveillance etc.
• Geographic and Jurisdictional Spillover: Regulatory clarity in the U.S. often influences other jurisdictions. More altcoin ETFs could drive global capital flow, influencing listings, regulatory reforms elsewhere (e.g., Europe, Asia).

Synthesis: Is the Delay a Bug or a Feature?

In short: these delays seem less like bureaucratic foot‐dragging, and more like constructive preparation for a significant shift. The SEC appears to be methodically laying out a framework that could enable many of the pending crypto ETFs to clear the approval process together, under common rules. While this means waiting in the short term, the upside could be large in mid‐to‐longer term: increased institutional adoption, more liquid markets, and greater legitimacy for altcoins.

If you are looking for new cryptos or next revenue sources, the upcoming few months (esp. late October) are likely to be pivotal. Tokens that are already in applications or close (XRP, SOL, LTC, etc.) are ones to watch. Also, paying attention to how the regulatory criteria shape up will give you advance clues: does a token have a futures market? is custody robust? Is the token listed on exchanges participating in surveillance? These may determine who clears the hurdle.

Conclusion

The delays in SEC decisions on crypto ETFs—though perhaps frustrating—may represent a strategic standstill rather than something to fear. With dozens of proposals pending, many involving altcoins, and with emerging generic listing standards, the regulatory environment is shifting. October 2025 may be the key month when many approvals are granted in batch. That makes now a crucial moment for industry participants: projects, investors, infrastructure providers, and legal/regulatory teams to prepare. For those who spot the tokens and firms aligning with the upcoming framework, this could be the opening of a new chapter in crypto finance.