The U.S. Securities and Exchange Commission (SEC) has pushed back its ruling on spot ETFs for the21Shares XRP Trust, Grayscale Dogecoin Trust, and Bitwise’s proposal to add staking to its ETH ETF.

美國證券交易委員會（SEC）已將其在21Shares XRP Trust，Grayscale Dogecoin Trust和Bitwise提出的提議中添加Stataking的裁決推遲了其在其ETH ETF中添加Statake的提議。

All applications are now due on July 2025. However, there is a good chance these requests will be postponed until October, as the SEC continues to take a cautious approach in evaluating spot ETFs.

所有申請現在均在2025年7月到期。但是，由於SEC繼續採取謹慎的方法來評估現場ETF，因此很有可能將這些請求推遲到10月。

Regulatory Delays & Market Impact

監管延誤和市場影響

The SEC’s latest delay follows a pattern of extended review periods for crypto-related ETFs. The commission stated that it needs more time to assess the proposals and their compliance with investor protection regulations.

SEC的最新延遲遵循了與加密相關的ETF的延長審核期的模式。該委員會表示，它需要更多時間來評估提案及其遵守投資者保護法規。

While Bitcoin and Ethereum spot ETFs were approved last year, altcoin ETFs are still under scrutiny, with regulators considering the risks of market manipulation and fraud prevention.

儘管去年批准了比特幣和以太坊斑點ETF，但Altcoin ETF仍受到審查，監管機構正在考慮市場操縱和預防欺詐的風險。

From a speculative perspective, there is a high probability that the Commission is aiming to stall until its crypto task force completes its assessment of broader digital asset regulation. Considering the SEC’s history of lengthy decision timelines, it’s likely the agency is postponing ETF approvals to align with future regulatory frameworks or new enforcement strategies.

從投機性的角度來看，委員會的目標很高，直到其加密特遣部隊完成對更廣泛的數字資產監管的評估為止。考慮到SEC的冗長決策時間表歷史，該機構可能會推遲ETF批准，以與未來的監管框架或新的執法策略保持一致。

The SEC is also accepting public comments on the matter, which you can contribute to here if you wish to see this application progress faster.

SEC還接受了公眾對此事的評論，如果您希望更快地看到此應用程序進展，可以在此處為此做出貢獻。

According to the SEC, NYSE Arca, Inc. submitted a proposal to add the possibility of staking to the Bitwise Ethereum ETF on March 20, 2025. As per Section 19(b)(2) of the Securities Exchange Act, the SEC had 45 days to respond to, and approve or disapprove, the proposal. However, the Commission has now decided to extend the period of time to respond from July 6, 2025.

根據SEC，NYSE ARCA，Inc。提交了一項提案，以在2025年3月20日向位於位的以太坊ETF中添加任何可能性。根據《證券交易法》第19（b）（b）（b）（b）（b）（b）（2）條，SEC有45天的回應，批准或不贊成，提案。但是，該委員會現在決定延長2025年7月6日起回應的時間。

The SEC’s delay does not necessarily mean rejection, but it does indicate a cautious approach by regulators towards approving altcoin ETFs. Analysts anticipate October as the earliest time frame for final approvals, depending on the SEC’s assessment of market risks and investor protections.

SEC的延遲並不一定意味著拒絕，但確實表明監管機構對批准Altcoin ETF進行了謹慎的態度。分析師預計十月是最終批准的最早時間範圍，具體取決於SEC對市場風險和投資者保護的評估。