- The SEC has delayed decisions on multiple altcoin ETF filings, extending reviews until May.
- Polymarket data showed rising approval odds for Solana, Ripple, Cardano, and Dogecoin ETFs.
Despite growing anticipation for altcoin ETF approvals in 2025, the U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on multiple filings.
SEC delays ETF approval
In a series of notices issued on the 11th of March, the agency announced it would take additional time to review proposed rule changes for Ripple [XRP], Solana [SOL], Litecoin [LTC], and Dogecoin [DOGE] ETFs.
Grayscale’s XRP ETF and Cboe BZX Exchange’s spot Solana ETF are among the applications affected by the extended review deadlines, now pushed to May.
This delay has heightened investor anticipation for regulatory clarity, sparking speculation about the potential approval of altcoin ETFs in the coming months.
For context, the SEC previously acknowledged 19b-4 filings, a key requirement for listing ETFs on Wall Street platforms. Typically, the commission has 45 days to review filings but can extend this period by another 45 days.
Further delays are possible, with additional 45- and 60-day extensions potentially lengthening the decision-making process further.
Analysts weigh in…
Despite this, Bloomberg analyst James Seyffart noted that the delay was unsurprising, as the regulatory body often takes its full review period before making a final decision.
Taking to X (formerly Twitter), Seyffart noted,
“Yes, the SEC just punted on a bunch of alt coin ETF filings including Litecoin, Solana, XRP & DOGE. It’s expected as this is standard procedure & Atkins hasn’t even been confirmed yet.”
For context, in December, former SEC Commissioner Paul Atkins, known for his pro-crypto stance, was chosen by Trump to lead the agency.
However, his appointment remains uncertain as congressional confirmation hearings have yet to be scheduled.
Seyffart added,
“This doesn’t change our (relatively high) odds of approval. Also note that the final deadlines aren’t until October for these.”
Confirming the delay in approval, fellow Bloomberg ETF analyst Eric Balchuna further noted,
“Eth staking and in-kind also delayed. Everything delayed. It’s like the NYC-bound Amtrak on monday morning: “Mechanical issues in DC””
Will Mark Uyeda will be different from Gensler?
Speculation surrounds acting SEC Chairman Mark Uyeda’s regulatory stance, with some expecting him to follow Gary Gensler’s approach. However, his proposal to drop a rule change extending oversight to crypto firms suggests a different direction.
Optimism for altcoin ETFs is growing, with Polymarket data showing an 87% approval probability for a Solana ETF, 75% for XRP, 69% for Cardano [ADA], and 68% for Dogecoin.
While the U.S. remains cautious on altcoin ETF approvals, Asia is witnessing a regulatory shift. South Korea, a major financial hub, is gaining political momentum for crypto reforms.
Han Dong-hoon, a leading presidential candidate, has advocated for deregulating the crypto market and approving Bitcoin ETFs.
Thus, as nations ramp up crypto initiatives, 2025 is shaping up to be a pivotal year for the industry.
