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.
EXPLORE: Best New Cryptocurrencies to Invest in 2025
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 had “punted 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.
Eth staking and in-kind also delayed. Everything delayed. It's like the NYC-bound Amtrak on monday morning: "Mechanical issues in DC"
— Eric Balchunas (@EricBalchunas) March 11, 2025
Without an official confirmation hearing scheduled, the regulatory environment remains uncertain.
Bloomberg’s senior ETF analyst Eric Balchunas also commented on the situation, stating that “everything [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.
EXPLORE: 10 Coins with High Returns: Crypto Forecast 2025
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 the “carry trade.”
EXPLORE: 10 Best AI Crypto Coins to Invest in 2025
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.
Why you can trust 99Bitcoins
Established in 2013, 99Bitcoin’s team members have been crypto experts since Bitcoin’s Early days.
Weekly Research
100k+Monthly readers
Expert contributors
2000+Crypto Projects Reviewed
Free Bitcoin Crash Course
- Enjoyed by over 100,000 students.
- One email a day, 7 days in a row.
- Short and educational, guaranteed!
Maximize Your Trading With Margex’s 20% Deposit Bonus
Hottest Meme Coins to Buy in April? Retail Target Latest Crypto For Mega Gains
AR.IO Brings The Permanent Cloud to AI Storage Crisis
10 Best Crypto Bonuses in 2025 – Top Exchange Offers & Promotions
4 Days Left For Early Investors in World’s First Meme Coin Index: Meme Coin Mcap Hits $56Bn
