SEC Delays Decisions on Several Spot Cryptocurrency ETFs, Including Those for XRP, Solana, Litecoin, and Dogecoin

The U.S. Securities and Exchange Commission (SEC) has pushed back on its decision to several cryptocurrency exchange-traded fund (ETF) proposals, including those for XRP, Solana, Litecoin, and Dogecoin.

In a series of filings on March 11, the SEC announced it had "designated a longer period" for review, kicking back some decision deadlines to May. This applies to Grayscale’s XRP ETF and Cboe BZX Exchange’s spot Solana ETF.

Yes, the SEC just punted on a bunch of alt coin ETF filings (including Litecoin, Solana, XRP & DOGE). It's expected as this is standard procedure & Atkins hasn't even been confirmed yet. This doesn't change our (relatively high) odds of approval. Also note that the final deadlines...

"The deferrals are routine and do not change the overall likelihood of approval," Bloomberg ETF analyst James Seyffart said.

He also noted that the final deadlines for these ETFs won’t arrive until October.

Another ETF analyst, Eric Balchunas, added that the SEC has also pushed back on decisions for Ethereum staking and in-kind redemptions, further extending regulatory uncertainty.

These postponements come as the SEC undergoes leadership changes.

ETF News: The #SEC has filed 45 day extentions of action to the @Solana $SOL @litecoin $LTC @dogecoin $DOGE and @Ripple $XRP ETF applications.Next decisions on approval will be on or before April 4th 2025. pic.twitter.com/gNyKWcG4DE— ETF Trends (@ETFTrends) March 10, 2024

Former Chair Gary Gensler, known for his hardline on crypto, stepped down in January.

Since then, several of the agency’s cases against crypto firms have been dismissed.

President Donald Trump has nominated former SEC Commissioner Paul Atkins, a more crypto-friendly figure, as the new chair, but his confirmation remains pending.

These postponements highlight ongoing shifts in U.S. crypto regulation. But industry participants remain optimistic about eventual approval of these ETFs.