Altcoins

SEC Delays Decision On XRP, Solana, Litecoin, And Dogecoin ETFs

By Ruholamin Haqshanas

Last Updated: Mar 12, 2025

Fact checked

By Akriti Seth

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SEC Delays Decision on XRP, Solana, Litecoin, and Dogecoin ETFs
Disclaimer Icon
Disclaimer

Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
99Bitcoins may receive advertising commissions for visits to a suggested operator through our affiliate links, at no added cost to you. All our recommendations follow a thorough review process.

The U.S. Securities and Exchange Commission (SEC) has postponed its decision on multiple exchange-traded funds (ETFs) tied to major cryptocurrencies, including XRP, Solana, Litecoin, and Dogecoin.

In a series of filings on March 11, the SEC announced that it would extend the review period for proposed rule changes that would enable the ETFs to move forward.

Among the delayed applications are Grayscale’s XRP ETF and Cboe BZX Exchange’s spot Solana ETF. The regulator has now set May as the next decision deadline for these proposals.

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SEC Delays Altcoin ETFs, but Analyst Says It’s No Cause for Concern

Bloomberg ETF analyst James Seyffart addressed the delays in a March 11 post on X, noting that while the SEC hadpunted on a bunch of altcoin ETF filings,it was not necessarily a bad sign.

It’s expected, as this is standard procedure,Seyffart explained. He also pointed out that the final decision deadlines for these ETFs are still months away, with the ultimate cutoff extending into October.

Seyffart further noted that political factors could influence the approval process, particularly the pending confirmation of Paul Atkins, former SEC commissioner and pro-crypto businessman, who was selected by former President Donald Trump to lead the agency.

Without an official confirmation hearing scheduled, the regulatory environment remains uncertain.

Bloomberg’s senior ETF analyst Eric Balchunas also commented on the situation, stating thateverything [is] delayed,including proposals for ETFs featuring Ethereum staking and in-kind redemptions.

This is not the first time the SEC has postponed a decision on crypto-related ETFs. In late February, the commission extended its deadline for reviewing a request from Cboe Exchange to list options linked to Ethereum ETFs.

The latest delays follow a wave of altcoin ETF filings submitted after Trump’s election victory and the subsequent resignation of former SEC Chair Gary Gensler.

Gensler, known for his aggressive regulatory approach toward crypto, oversaw more than 100 enforcement actions during his tenure before stepping down on January 20.

Since his departure, several firms previously targeted by the SEC have seen legal actions dismissed, including crypto exchange Gemini on February 26 and trading firm Cumberland DRW on March 4.

Acting SEC Chairman Mark Uyeda has also proposed rolling back a rule change that would have extended regulatory oversight to alternative trading systems, including those used by crypto firms.

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Spot Bitcoin ETFs See Continued Outflows as  Investors Engage in Arbitrage Strategies

It is worth noting that spot Bitcoin ETFs have seen continued outflows over the past few weeks.

Industry experts, including BitMEX co-founder Arthur Hayes, suggest that much of the selling pressure comes from hedge funds using Bitcoin ETFs for arbitrage rather than long-term investment.

As these yield opportunities fade, many traders are unwinding their positions, contributing to the sustained outflows. 

Markus Thielen, head of research at 10x Research, has also noted that over half of spot Bitcoin ETF investors are involved in ETF arbitrage strategies. He said that the majority of the inflows, about 56%, are linked to arbitrage strategies, particularly thecarry trade.”

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Key Takeaways

  • SEC delays decision on multiple crypto ETFs, including XRP and Solana, pushing the next deadline to May.
  • Analysts say the delay is standard procedure and not necessarily a bad sign for approval.
  • Political uncertainty, including the pending SEC leadership confirmation, could influence future decisions.

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Ruholamin Haqshanas
Ruholamin Haqshanas
Crypto Journalist

Ruholamin Haqshanas is an accomplished crypto and finance journalist with over three years of experience. He has been featured in various high-profile outlets, including Cryptonews.com, Investing.com, 24/7 Wall St, and Business2Community. Read More

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