The U.S. Securities and Exchange Commission (SEC) has once again postponed key decisions on cryptocurrency exchange-traded funds (ETFs), this time targeting proposals that would introduce Ethereum staking features. Major asset managers including BlackRock, Fidelity, and Franklin Templeton are among those affected.
According to an SEC filing dated September 10, the regulator extended its review period for BlackRock’s request to allow staking within its iShares Ethereum Trust. The decision, originally scheduled for September 15, has been pushed to October 30, 2025. If approved, it would mark the first ETF of its kind to incorporate Ethereum staking.
The SEC explained the delay by noting it required “sufficient time” to fully consider the proposals and the broader issues raised.
Fidelity’s application to add staking to its Ethereum ETF has also been postponed, with a new deadline of November 13. Other issuers have been hit with similar extensions: CBOE’s 21Shares Ethereum ETF is now due October 23, while NYSE’s review of Grayscale’s Ethereum ETF has been delayed until October 29.
Why the SEC Is Hesitant
The latest round of delays reflects the regulator’s ongoing caution around staking-based products. Staking, which allows investors to earn rewards for helping secure the Ethereum network, has sparked regulatory concerns in the past over issues such as custody, market manipulation, and investor protection.
While spot Bitcoin ETFs gained approval earlier this year, staking-linked products represent new territory for the SEC, raising fresh questions about how these funds would operate in a regulated environment.
Market Impact
For now, the crypto industry is left waiting. The decisions could influence how quickly staking-based investment products gain mainstream adoption in the U.S. and whether traditional finance firms will be able to expand their crypto offerings beyond Bitcoin.
In case you missed it, there are over 90 crypto ETFs pending SEC approval (see chart below via @JSeyff )
— James McKay (@McKayResearch) September 10, 2025
At this rate we'll have one for every top 30- 40 #crypto inside 12 months, even with delays. Inflows may surprise for some, but others are still bottom bouncing on LT charts. pic.twitter.com/Q6HSl8xNYT
The SEC’s cautious approach underscores the complexity of bringing staking into regulated financial markets. With deadlines now pushed into late October and November, investors and institutions alike will be watching closely to see whether Ethereum ETFs with staking eventually win approval—or face further delays.
