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The US Securities and Exchange Commission (SEC) has postponed decisions on multiple applications for XRP, Litecoin (LTC), Solana (SOL) and Dogecoin (DOGE) ETFs (exchange-traded funds).
The agency said in a March 11 filing that it has “designated a longer period” to decide on the proposed rule changes that would allow the ETFs to proceed to the next stage.
Bloomberg Expert Not Concerned About SEC Delay
The affected ETFs include Cboe BZX Exchange’s spot Solana ETF and Grayscale’s XRP ETF filings. The SEC now has until May to reach a decision on these funds.
While the SEC has declined to deliver a decision on the ETFs, Bloomberg ETF analyst James Seyffart said he “expected” the delay, calling it part of “standard procedure.”
Eth staking and in-kind also delayed. Everything delayed. It’s like the NYC-bound Amtrak on monday morning: “Mechanical issues in DC”
— Eric Balchunas (@EricBalchunas) March 11, 2025
He added that US President Donald Trump’s pick for SEC Chair, Paul Atkins, has not even been confirmed yet.
“This doesn’t change our (relatively high) odds of approval,” he said, adding tha the final deadline for decisions on the funds is October.
Flurry Of Applications For ETFs Submitted To SEC After Gensler Resigns
The SEC’s move to delay its decision for several altcoin ETFs comes after the agency received several applications for funds linked to cryptos other than Bitcoin and Ethereum at the beginning of the year.
The catalyst was the resignation of former anti-crypto SEC Chair Gary Gensler.
Under Gensler’s leadership, the SEC opted for a regulation by enforcement approach for US companies operating in the crypto space.
Since he stepped down on Jan. 20 and pro-crypto Donald Trump entered the White House on the same day, several lawsuits against crypto firms have been dropped.
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