SEC Delays Decision On XRP, Litecoin, Solana, And Dogecoin ETFs

The U.S. Securities and Exchange Commission (SEC) has postponed decisions on multiple applications for exchange-traded funds (ETFs) linked to XRP, Litecoin (LTC), Solana (SOL), and Dogecoin (DOGE).

In a March 11 filing, the agency announced an extended review period for the proposed rule changes necessary for these ETFs to advance.

Bloomberg Expert Unfazed by 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 make a decision.

Bloomberg ETF analyst James Seyffart described the delay as expected and consistent with standard procedure. He noted that the confirmation of Paul Atkins, President Trump's nominee for SEC Chair, is still pending. Seyffart maintained a relatively optimistic outlook regarding approval, citing an October deadline for final decisions.

Wave of ETF Applications Follows Gensler's Resignation

The SEC's delay on these altcoin ETFs follows a surge in applications for crypto funds beyond Bitcoin and Ethereum, spurred by the resignation of former SEC Chair Gary Gensler in January. Gensler's tenure was marked by a regulatory approach focused on enforcement. His departure, coinciding with President Trump's inauguration, has been followed by the dismissal of several lawsuits against cryptocurrency firms.

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