The U.S. Securities and Exchange Commission (SEC)'s approval of spot cryptocurrency exchange-traded funds (ETFs) is anticipated to be delayed until after the inauguration of a new president.

Although the SEC has received several applications, analysts believe approval is unlikely until the agency's leadership is finalized.

Bloomberg Intelligence ETF analyst James Seyffart expressed doubt about early approvals, stating, "I would be very surprised if they approve any of these filings before Paul Atkins's confirmation. We assume anything that can be delayed will be delayed until Atkins formally joins the SEC."

A source familiar with the situation echoed this sentiment, suggesting early approval is improbable despite the current administration's demonstrated willingness to overturn precedents. The source added, "I would be surprised if it came, but you never know."

The delays coincide with a leadership transition at the SEC. Following former Chairman Gary Gensler's January resignation, President nominated Paul Atkins, former SEC Commissioner and CEO of Patomak Global Partners, to lead the agency. Mr. Atkins' confirmation hearing remains unscheduled.

The SEC recently postponed decisions on several altcoin ETFs, including those linked to XRP, Solana (SOL), Dogecoin (DOGE), and Litecoin (LTC). While unexpected, this postponement wasn't surprising to industry observers, according to Seyffart.

However, Seyffart and his colleagues estimate a 65% or higher probability of altcoin ETF approvals by the end of 2025. Decisions on applications from May and June may have improved odds, contingent on the new SEC chair's confirmation.

*This is not investment advice.

Continue Reading: When Could XRP, Solana, Dogecoin and Litecoin Spot ETFs Be Approved? Insider Source Provides Information