SEC delays decisions on multiple crypto ETFs

The U.S. Securities and Exchange Commission (SEC) has postponed its decisions regarding several cryptocurrency exchange-traded fund (ETF) applications, including those for XRP (CRYPTO:XRP), Solana (CRYPTO:SOL), Litecoin (CRYPTO:LTC), and Dogecoin (CRYPTO:DOGE).

This announcement was made on March 11, indicating that the SEC has designated a longer period to evaluate the proposed rule changes necessary for these ETFs to proceed.

Among the applications affected are Grayscale’s XRP ETF and Cboe BZX Exchange’s spot Solana ETF, with decisions now pushed back until May 2025.

Bloomberg ETF analyst James Seyffart commented on the situation, stating that while the SEC has “punted on a bunch of altcoin ETF filings,” he does not view this as a cause for concern.

He remarked that such delays are expected and part of standard procedure.

Seyffart noted that Paul Atkins, President Donald Trump’s nominee to chair the SEC, has yet to be confirmed, which may also contribute to the agency's cautious approach.

“This doesn’t change our (relatively high) odds of approval,” he added, emphasising that final deadlines for these ETF applications are not until October.

Another Bloomberg analyst, Eric Balchunas, pointed out that delays are affecting various ETFs, including those involving Ether staking and in-kind redemptions.

The SEC's decision follows a wave of altcoin ETF filings that emerged after Trump's election and Gensler's resignation in January 2025.

During Gensler’s tenure, the SEC was known for its aggressive regulatory stance toward cryptocurrencies, with over 100 actions taken against crypto-related entities.

Since then, several firms facing legal action have had their cases dismissed, signaling a shift in regulatory focus under acting SEC Chairman Mark Uyeda.

Uyeda has proposed abandoning plans to expand regulations on alternative trading systems to include crypto firms.