US SEC Postpones Approval Decisions for Several Crypto Spot ETFs

Crypto ETFs XRP

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Sujha Sundararajan

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Sujha Sundararajan

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March 12, 2025 02:33 EDT

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The US regulator, on Tuesday, delayed the approval decisions on several altcoin spot exchange-traded funds (ETFs) filings. This includes XRP ETFs filed by Canary Capital, Bitwise, and 21Shares, along with Litecoin, Solana and Dogecoin ETFs.

Per a series of notices from the Securities and Exchange Commission (SEC), the agency has postponed decisions on the Solana ETFs filed by 21Shares, Canary, and VanEck. Further, Canary’s spot Litecoin and XRP ETFs were also delayed.

Bloomberg ETF analyst James Seyffart calls this a “standard procedure,” adding that the approval odds for these altcoin ETFs still remain high.

“It’s expected as this is standard procedure & Atkins hasn’t even been confirmed yet,” he wrote on X. “This doesn’t change our (relatively high) odds of approval. Also note that the final deadlines aren’t until October for these.”

Additionally, fellow analyst Eric Balchunas noted that “everything delayed,” pointing to ETFs featuring Ether staking and in-kind redemptions.

SEC Needs “Longer Period” To Decide on Proposed ETFs

The regulator cited that it has “designated a longer period” to contemplate on the proposed ETFs that track the price of various altcoins.

In a separate filing, the SEC said that it has pushed the decisions on Grayscale’s XRP and Cboe BZX’s spot Solana ETF until May.

The Commission has officially designated May 29 as the new deadline for deciding on the Canary Spot ADA ETF. The SEC noted that the delay would give “sufficient time to consider the proposed rule change and the issues raised therein.”

2025 is Breakout Year for XRP

According to James Toledano, Chief Operating Officer at Unity Wallet, altcoin ETFs have genuine potential to attract capital, especially if supported by innovation-friendly policies with the new incoming U.S. administration.

“But, their success may be less consistent compared to Bitcoin ETFs due to the seemingly episodic nature of interest in altcoins,” he told Cryptonews.

The recent delays by the SEC follows Trump’s signing of a historic executive order creating a Strategic Bitcoin Reserve and a U.S. Digital Asset Stockpile.