The approval of a number of exchange-traded funds (ETFs) for Litecoin, Dogecoin, Solana, and XRP has been postponed by the U.S. Securities and Exchange Commission (SEC). The agency said in its documents on March 11 that it has “designated a longer period” to make a decision on the proposed rule modifications that would enable these ETFs to proceed.
The CBO BZX Exchange’s spot Solana ETF filing and Grayscale’s XRP filing are among the impacted ETFs; judgments have been delayed until May. In a March 11 X post, Bloomberg ETF analyst James Seyffart stated that although the SEC has “placed a hold on a batch of altcoin ETF filings,” he does not believe this to be a reason for alarm.”This is expected, as it’s standard procedure,” he added, adding that Paul Atkins,
The nominee for SEC chair chosen by US President Donald Trump, “hasn’t even been confirmed yet.” “This has no bearing on our (very good) chances of approval. Additionally, remember that October is the last deadline,” Seyffart continued. Trump appointed former SEC Commissioner Atkins, a pro-crypto entrepreneur, as the agency’s next chair earlier in December. The congressional confirmation hearing has not yet been set, though.
The SEC has already extended the deadline for ETF decisions. Additionally, it postponed the Cboe Exchange’s request to market Ether-tied options until February 28.
