In the vast universe of crypto, it's often not innovations that set the pace, but rather the decisions of the SEC. By postponing once again the review of the Solana and Litecoin ETFs, the American regulator is reminding us that no altcoin will cross the door to institutional markets without its approval.

While these delays are fueling speculation and highlight a regulation that could change the game, other deadlines are quickly approaching. June will see the fates of Polkadot, XRP, and Dogecoin decided.

The SEC postpones its decision on the Solana ETF

The SEC has officially postponed its decision regarding the highly anticipated Solana spot ETF proposed by Grayscale. According to documents filed by the regulator, the deadline is now set for October 2025.

Such a postponement comes barely a week after another adjournment, that of the Litecoin ETF filed by Canary Capital.

As summarized James Seyffart, analyst at Bloomberg Intelligence, in a post on X dated May 5 :

“The SEC has postponed its decision on the Litecoin ETF. No surprise, but the signal remains negative in the short term.”

Indeed, these delays, although predictable, trigger questions in a market where institutional interest in crypto products continues to grow. Spot ETFs are seen as key instruments to channel investment flows into cryptos.

Here are several major points highlighting the importance of these decisions :

In this context, the SEC’s caution contrasts with market expectations, which heightens the tension between regulation and innovation.

Imminent decisions for Polkadot, XRP, and Dogecoin

While Solana and Litecoin see their hopes postponed, other projects enter the regulatory decision zone. According to recent documents published, the SEC must rule in June on several other crypto ETFs.

On June 11, it will be the Grayscale Polkadot ETF that will be reviewed. Two weeks later, on June 24, it will be 21Shares’ turn to defend its own Polkadot ETF. Additionally, a deadline is also set for June 17 for the Franklin Templeton XRP ETF and the Bitwise Dogecoin ETF.

These dates, although official, are not irrevocable. The SEC legally has a total of 240 days to decide, and it does not hesitate to use this margin, as shown by the cases of the Bitcoin and Ethereum ETFs.

This phenomenon of “regulatory procrastination” is now well documented. The SEC systematically delays without necessarily issuing an explicit refusal, which maintains uncertainty and temporarily freezes short-term hopes.

Such a strategy could also apply to the Polkadot, XRP, and DOGE ETFs, even if no official indication confirms this for now.

This tense and uncertain regulatory climate is not without consequences on investors’ strategies and the institutional perception of the concerned assets. If the SEC continues to slow the process, it could hinder the widespread adoption of certain cryptos that heavily rely on exposure via ETFs to attract large funds. Conversely, a series of approvals in June could trigger a new wave of capital inflows.