SEC Postpones Decision on XRP, Solana, Litecoin, and Dogecoin ETFs

The U.S. Securities and Exchange Commission (SEC) has again delayed its decision on several exchange-traded funds (ETFs) linked to major altcoins, including XRP, Solana (SOL), Litecoin (LTC), and Dogecoin (DOGE). Filings dated March 11th show the regulator extending the review period for proposed rule changes that would allow these ETFs to trade on U.S. markets.

Affected applications include Grayscale’s XRP ETF and Cboe BZX Exchange’s spot Solana ETF, both now facing a decision postponement until at least May. This follows a familiar pattern of SEC delays for ETF approvals, especially those involving cryptocurrencies beyond Bitcoin and Ethereum.

Bloomberg ETF analyst James Seyffart reassured the market that these delays are procedural, not rejections. He stated on X, "The SEC just punted on a bunch of altcoin ETF filings. This is expected—standard procedure."

Industry Awaits New SEC Leadership

The nomination of former SEC Commissioner Paul Atkins—considered pro-crypto—by the Trump administration is viewed as a potential turning point for digital asset regulation. However, with no confirmation hearing scheduled, the SEC remains under interim leadership.

Bloomberg analyst Eric Balchunas noted that alongside altcoin ETF delays, the SEC has also postponed decisions on Ether staking ETFs and in-kind redemption models. These delays suggest a cautious approach to crypto-related financial products, despite industry calls for regulatory clarity.

This isn't the SEC's first crypto ETF deadline extension. In late February, it postponed a decision on Cboe Exchange's request to list options tied to Ether ETFs, further highlighting its hesitation regarding broader crypto-based financial instruments.

Post-Gensler Agency Shows Signs of Softening

These ETF delays occur amidst a shifting regulatory landscape following the January resignation of former SEC Chairman Gary Gensler. Known for his aggressive stance against crypto, Gensler oversaw over 100 enforcement actions against digital asset firms during his tenure.

Since his departure, several high-profile cases against crypto firms have been dismissed. On February 26th, the SEC dropped its lawsuit against Gemini, and on March 4th, it ended proceedings against Cumberland DRW, a prominent crypto trading firm. Acting SEC Chairman Mark Uyeda has also proposed rolling back a rule expanding oversight of alternative trading systems to include crypto platforms.

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