The Securities and Exchange Commission (SEC) is unlikely to make any decisions on several spot crypto exchange-traded fund (ETF) applications until its leadership is settled, an ETF analyst said Tuesday.

ETF分析师周二表示，在确定其领导层之前，证券交易委员会（SEC）不太可能对几个现货加密交易所交易基金（ETF）申请做出任何决定。

President Donald Trump named former SEC commissioner and current CEO of Patomak Global Partners Paul Atkins as his pick to lead the agency. Former SEC Chair Gary Gensler resigned from the position in January ahead of the inauguration of Trump. No hearing has been scheduled yet for the confirmation of Atkins.

唐纳德·特朗普（Donald Trump）总统任命了前美国证券交易委员会（Patomak）全球合作伙伴保罗·阿特金斯（Paul Atkins）的现任首席执行官保罗·阿特金斯（Paul Atkins）领导该机构的选择。前美国证券交易委员会主席Gary Gensler于1月在特朗普就职之前就辞去了职位。尚未安排听证会以确认阿特金斯。

The agency pushed back decisions on several spot crypto ETFs on Tuesday, including XRP, Solana (SOL), Dogecoin (DOGE) and Litecoin (LTC), a move that while not completely expected, wasn’t shocking either, said James Seyffart, an ETF analyst at Bloomberg Intelligence.

该机构在周二的几个位置加密ETF上推迟了决定，包括XRP，Solana（Sol），Dogecoin（Doge）和Litecoin（LTC），这一举动并没有完全预期，并没有令人震惊，这也不令人震惊，这也不令人震惊。

It took issuers years to receive the SEC’s green lights on launching spot bitcoin (BTC) and ether (ETH) ETFs, even despite the fact that there had been a well-established regulated futures market for both assets. While this is not a legal requirement in order to launch ETFs based on an asset, it was an important criteria for the SEC in launching ETFs tied to BTC and ETH.

发行人花了几年时间才获得SEC的绿灯，即使这两种资产都有一个公认的受监管的期货市场，即使发起现场比特币（BTC）和Ether（Eth）ETF。尽管这不是根据资产启动ETF的法律要求，但它是SEC启动与BTC和ETH相关的ETF的重要标准。

None of the currently outstanding ETF applications fulfil that criteria. Nevertheless, Seyffart and his colleagues see odds for an approval for several altcoin ETFs by the end of the year at 65% or higher. While some of the applications that are due for a decision in May and June are more likely to see an approval then, it all depends on the confirmation of the new chair.

目前未出色的ETF应用程序都不符合该标准。尽管如此，塞耶法特和他的同事们在年底之前批准了几个Altcoin ETF的赔率，为65％或更高。虽然五月和六月决定的某些申请更有可能获得批准，但这一切都取决于新主席的确认。

In its reviews of past spot Bitcoin and Ether ETF applications, the SEC usually took advantage of the procedural delays it’s allowed to use to extend deadlines to close to 240 days — the longest amount of time it has to approve or reject an application.

SEC在对过去的现场比特币和Ether ETF应用程序的评论中，通常利用允许使用的程序延迟将截止日期延长到接近240天的过程中，这是批准或拒绝申请的最长时间。

“I would have been very very surprised if they approved any of these filings before [Paul] Atkins was confirmed at their first deadlines. It’s been our assumption that anything that can be pushed until Atkins is officially at the SEC, will be pushed back,” Seyffart said.

“如果在[Paul] Atkins在第一个截止日期确认之前，他们批准了这些文件中的任何一个，我会感到非常惊讶。我们的假设是，直到阿特金斯正式进入SEC之前，任何可以推动的东西都将被推迟。” Seyffart说。

A person familiar with the matter told CoinDesk that they agree with that view. “This administration has shown an ability to break precedent, so I guess it’s within the realm of possibility to see an early approval. I’d be surprised, but you never know,” the person said.

一个熟悉此事的人告诉Coindesk，他们同意这种观点。 “本届政府表现出了打破先例的能力，因此我猜这是在可能的早期批准的可能性之内。我会感到惊讶，但你永远不会知道。”这个人说。

“Theoretically we should have a chair by then but I wouldn’t necessarily say it’s guaranteed that these things will be approved immediately then either. Certainly more possible than the March and April deadline for these different spot crypto assets,” Seyffart said.

“从理论上讲，到那时我们应该有一把椅子，但我不一定会说，这些事情也将立即得到批准。对于这些不同的地点加密资产，当然比三月和四月的截止日期更可能。”