Crypto Industry Awaits SEC’s Final Word on 16 ETFs This October

The U.S. Securities and Exchange Commission (SEC) is set to make a wave of high-stakes decisions in October, with 16 crypto exchange-traded funds (ETFs) reaching their final deadlines. The filings cover a mix of major altcoins, including Solana, XRP, Litecoin, Dogecoin, Cardano, and Hedera, setting the stage for what analysts have dubbed “ETF month.”

The earliest ruling could come on October 2 with decentralized exchange Canary’s proposed Litecoin ETF. Grayscale’s bid to convert its Solana and Litecoin trusts follows on October 10, while WisdomTree’s XRP fund faces an October 24 deadline. Bloomberg ETF analyst James Seyffart noted that while each has a formal deadline, approvals or denials could arrive at any time beforehand.

16 New ETFs Awaiting Clearance

The crypto market is watching closely, with some predicting that ETF approvals could ignite fresh momentum. Analysts at exchange Bitfinex suggested in August that successful approvals might usher in a new “altcoin season,” giving investors lower-risk exposure to volatile digital assets while fueling broader adoption.

Nate Geraci, president of NovaDius Wealth Management, echoed the sentiment, calling the upcoming weeks “enormous” for spot crypto ETFs. “Starts this week with deadline on Canary spot Litecoin ETF,” Geraci said in an X post. “Will be followed by decisions on Sol, Doge, XRP, ADA, & HBAR ETFs.”

Despite the crowded pipeline, major players like Fidelity and BlackRock, both active in the crypto ETF race, are notably absent from October’s lineup. Crypto trader Daan Crypto Trades pointed out that their absence doesn’t diminish the significance of the deadlines but may shift the spotlight toward smaller issuers hoping to capitalize on momentum.

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Seyffart, who has tracked the sector for years, previously placed the odds of ETF approvals in this cycle at 90% or higher in 2025, suggesting the SEC’s stance is softening.

The SEC has long been cautious with crypto ETFs, often delaying or rejecting filings. However, the regulatory environment is showing signs of change. On September 17, the SEC approved a new listing standard for commodity-based trust shares, a move expected to streamline future spot crypto ETF launches. Seyffart described it as paving the way for a “wave of spot crypto ETP launches,” while ETF analyst Eric Balchunas noted that as many as 22 coins with futures listed on Coinbase could become “eligible for spot ETF-ization.”

Already, asset manager Hashdex has expanded its ETF offerings to include XRP, Solana, and Stellar, underscoring how quickly the space could grow if the SEC opens the door in October.