SEC delays crypto ETF decisions. Africa becomes 3rd in global crypto adoption

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The crypto market stayed relatively calm this week, but several notable events still stood out. Let’s recap some of the key events in this digest.

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SEC delays BlackRock and Franklin Templeton crypto ETF decisions

The SEC has delayed decisions on a wave of crypto ETF applications, including BlackRock’s iShares Ethereum Trust staking proposal and Franklin Templeton’s Solana, XRP, and Ethereum products, citing the need for more time to evaluate. New deadlines have been set between late October and mid-November, marking the latest in a series of extensions across altcoin and staking ETFs.

The delays come despite the launch of “Project Crypto,” SEC Chair Paul Atkins’ initiative to modernize securities rules and unify oversight of digital asset trading, lending, and staking. While the initiative signals a more pro-crypto stance under the Trump administration, the Commission continues to stall on approvals, raising frustration among industry participants.

As of late August, the SEC reportedly had at least 92 crypto-linked ETF proposals under review, ranging from Bitcoin and Ethereum products to more niche filings like Dogecoin and Hedera funds. The mounting backlog underscores the tension between the agency’s stated shift toward embracing digital assets and its cautious, drawn-out approval process.

Sub-Saharan Africa becomes the third-fastest-growing region for crypto adoption

Sub-Saharan Africa has emerged as the third-fastest growing region for crypto adoption, with Chainalysis reporting $205B in on-chain value received between July 2024 and June 2025, a 52% increase from the prior year. The surge reflects both institutional and retail momentum, driven by stablecoin flows across Africa, the Middle East, and Asia, as well as grassroots demand amid inflation and currency shortages.

Source: Chainalysis

Nigeria led the region with $92.1B in inflows, fueled by its young, tech-savvy population and ongoing struggles with inflation and foreign exchange access, while South Africa’s stronger regulatory framework has fostered institutional crypto services beyond simple trading. Retail adoption also stood out, with 8% of transfers under $10K, higher than the global average, underscoring crypto’s role in everyday use rather than speculative investing.

According to analysts, these conditions highlight Sub-Saharan Africa’s unique path to adoption: with weak local currencies, high inflation, and limited banking access, crypto serves not only as an investment but as a real-world financial tool. Industry voices suggest this makes the region a proving ground for mass adoption, with blockchain applications extending beyond finance to energy and other critical sectors.

Joseph Lubin teases future rewards for Linea holders as price dips 20%

Consensys founder Joseph Lubin has hinted that Linea token holders could be rewarded in the future, potentially receiving additional tokens from Consensys or aligned ecosystem projects. Lubin suggested that simply holding $LINEA for a set period could qualify users for distributions, framing it as a way to recognize engaged community members.

His remarks followed the project’s token generation event (TGE), where 85% of the supply was allocated to the ecosystem and 15% to the Consensys treasury. The comments also came in response to growing community pressure around $LINEA’s utility, with users calling for staking, lending, or token buybacks.

Despite the optimism, many holders sold after the airdrop, with $LINEA dropping from a post-TGE high of $0.046 to $0.024, down more than 20% in 24 hours, according to goodcryptoX. The steep decline highlights ongoing uncertainty around the token’s role and long-term value.

BitMine makes second huge ETH grab this week, holdings hit $9.2B

BitMine Immersion Technologies has doubled down on Ethereum this week, adding another $200M purchase from Bitgo that pushed its holdings above 2.1M $ETH, worth $9.2B, the largest treasury stash of any public company. The move follows a 202.5K $ETH buy earlier in the week and places BitMine far ahead of runner-up Sharplink Gaming, which holds 837K $ETH.

The spree comes amid a broader wave of corporate crypto acquisitions, though Bitcoin treasury buying has slowed significantly. Firms collectively added just $60M in $BTC, yet even modest Bitcoin buys triggered sharp rallies in company stocks. Pop Culture Group and Robin Energy both saw strong gains after adding $BTC, showing how even small allocations can spark outsized investor reactions.

In Hong Kong, the effect was more dramatic, with QMMM Holdings and Eightco shares surging thousands of percent on crypto-buying pledges before crashing back down.

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