#SECETF审批 The U.S. Securities and Exchange Commission (SEC) is advancing cautiously in its approval of cryptocurrency ETFs while adjusting policies. Recently, the SEC announced it would delay decisions on several applications, including Franklin Templeton's SOL and XRP ETFs, as well as Grayscale's HBAR and DOGE ETFs, with the final decision deadline extended to October 2025. This decision continues the SEC's scrutiny logic regarding market manipulation, liquidity, and investor protection, especially against the backdrop of high volatility in the cryptocurrency market, as regulators continue to require applicants to provide additional disclosure details.