SEC Delays Decision on Major Altcoin ETFs
The US Securities and Exchange Commission (SEC) has postponed its decision on approving several exchange-traded funds (ETFs) tied to XRP, Solana, Litecoin, and Dogecoin.
In a series of filings on March 11, the agency stated that it has “designated a longer period” to review the proposed rule changes that would allow these ETFs to move forward.
Among the affected filings are Grayscale’s XRP ETF and Cboe BZX Exchange’s spot Solana ETF, with decisions on both now delayed until May.
Bloomberg ETF analyst James Seyffart commented in a March 11 post on X that while the SEC had “punted on a bunch of altcoin ETF filings,” he did not view it as a significant concern.
“It’s expected, as this is standard procedure,” Seyffart explained, noting that US President Donald Trump’s pick to chair the SEC, Paul Atkins, has yet to be confirmed.
“This doesn’t change our (relatively high) odds of approval. Also note that the final deadlines aren’t until October,” he added.
Bloomberg ETF analyst Eric Balchunas also weighed in, stating that “everything [is] delayed,” including ETFs featuring Ether staking and in-kind redemptions.
In early December, Trump nominated Paul Atkins, a pro-crypto businessman and former SEC Commissioner, as the next SEC Chair. However, Congress has yet to schedule confirmation hearings.
This delay follows a pattern, as the SEC previously extended its deadline on Feb. 28 for Cboe Exchange’s request to list options tied to Ethereum ETFs.
The decision comes after the SEC received a wave of altcoin ETF filings following Trump’s election and the resignation of former SEC Chair Gary Gensler.
During his tenure from 2021 until his resignation on Jan. 20, Gensler took an aggressive regulatory approach toward crypto, overseeing 100 crypto-related enforcement actions.
Since his departure, several companies facing SEC lawsuits have seen their cases dismissed, including crypto exchange Gemini on Feb. 26 and crypto trading firm Cumberland DRW on March 4.
Meanwhile, acting SEC Chairman Mark Uyeda has proposed abandoning a rule change that would have expanded regulations on alternative trading systems to include crypto firms.
Sources:
https://cointelegraph.com/news/sec-delays-decision-xrp-solana-litecoin-dogecoin-etfs
https://www.sec.gov/files/rules/sro/cboebzx/2025/34-102589.pdf
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