XRP News Today: SEC delays Grayscale and Canary altcoin ETF decisions to October 2025

The U.S. Securities and Exchange Commission (SEC) has postponed its decisions on the Grayscale Spot Cardano (ADA) ETF and the Canary Spot Pudgy Penguins (PENGU) ETF to October 2025. The delay, first reported on August 19, follows the SEC's ongoing regulatory scrutiny of market structure and custody arrangements for crypto-based ETFs [1][2]. The initial decision dates, set for late August, have now been pushed back, with final determinations expected by October 24 and October 26 for certain applications [4].

This regulatory holdup has already triggered market volatility. Within 24 hours of the announcement, the Pudgy Penguins (PENGU) token dropped by 12.65%, while Cardano (ADA) experienced heightened trading activity. The uncertainty surrounding the ETF applications has contributed to investor hesitation, affecting the broader altcoin market and institutional investment pathways for these assets [2][4].

Grayscale Investments and Canary Capital are among the firms leading the charge for altcoin ETF approvals. Grayscale has historically been a vocal advocate for expanded ETF access, and its continued engagement with regulatory bodies underscores the strategic importance of these products for institutional and retail investors alike [4]. Both firms have revised their applications to align with the SEC’s stated priorities, including surveillance-sharing agreements and investor protection frameworks [2].

The SEC’s extended review period echoes similar delays encountered during the approval process for Bitcoin ETFs. Analysts suggest that October 2025 could become a pivotal month, with a potential wave of approvals if issuers continue to adapt their proposals to regulatory expectations [5]. According to Eric Balchunas, Senior ETF Analyst at Bloomberg, the industry is preparing for “every combo imaginable” in the ongoing regulatory negotiations [4].

In addition to the Grayscale and Canary ETFs, the SEC has also opened a public comment period for a proposed staked Injective ETF from Canary Capital, indicating a broader regulatory engagement with crypto asset products [6]. The regulatory environment continues to evolve, with the SEC emphasizing consistent oversight mechanisms to ensure market integrity and investor safeguards.

Market observers remain cautiously optimistic, noting that the coordinated filings by major asset managers could increase the likelihood of approvals. If the SEC authorizes any of these ETFs, it would represent a significant step toward mainstream adoption of altcoins in U.S. capital markets [5].

Source:

[1] MEXC (https://www.mexc.com/news/sec-postpones-decisions-on-canary-and-grayscales-xrp-etfs/73762)

[2] Binance (https://www.binance.com/en/square/post/28806253841577)

[4] MEXC (https://www.mexc.com/news/sec-pushes-back-decision-on-grayscales-cardano-etf/73705)

[5] FinanceFeeds (https://financefeeds.com/grayscale-bitwise-and-others-file-for-spot-xrp-etfs-amid-sec-delays/)

[6] CoinCentral (https://coincentral.com/injective-etf-proposal-from-canary-triggers-sec-public-input-phase/)

[7] Bitcoinist.com (https://bitcoinist.com/what-updated-xrp-etf-filings-mean/)