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.

美国证券交易委员会（SEC）已将其在21Shares XRP Trust，Grayscale Dogecoin Trust和Bitwise提出的提议中添加Stataking的裁决推迟了其在其ETH ETF中添加Statake的提议。

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.

所有申请现在均在2025年7月到期。但是，由于SEC继续采取谨慎的方法来评估现场ETF，因此很有可能将这些请求推迟到10月。

Regulatory Delays & Market Impact

监管延误和市场影响

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的最新延迟遵循了与加密相关的ETF的延长审核期的模式。该委员会表示，它需要更多时间来评估提案及其遵守投资者保护法规。

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.

尽管去年批准了比特币和以太坊斑点ETF，但Altcoin ETF仍受到审查，监管机构正在考虑市场操纵和预防欺诈的风险。

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.

从投机性的角度来看，委员会的目标很高，直到其加密特遣部队完成对更广泛的数字资产监管的评估为止。考虑到SEC的冗长决策时间表历史，该机构可能会推迟ETF批准，以与未来的监管框架或新的执法策略保持一致。

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还接受了公众对此事的评论，如果您希望更快地看到此应用程序进展，可以在此处为此做出贡献。

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.

根据SEC，NYSE ARCA，Inc。提交了一项提案，以在2025年3月20日向位于位的以太坊ETF中添加任何可能性。根据《证券交易法》第19（b）（b）（b）（b）（b）（b）（2）条，SEC有45天的回应，批准或不赞成，提案。但是，该委员会现在决定延长2025年7月6日起回应的时间。

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的延迟并不一定意味着拒绝，但确实表明监管机构对批准Altcoin ETF进行了谨慎的态度。分析师预计十月是最终批准的最早时间范围，具体取决于SEC对市场风险和投资者保护的评估。