The U.S. Securities and Exchange Commission (SEC) has postponed its decision on multiple exchange-traded funds (ETF) applications tied to XRP, Solana, Litecoin, and Dogecoin.
In a filing, the agency stated that it had “designated a longer period” to review proposed rule changes necessary to approve these ETFs. Among the affected applications are Grayscale’s XRP ETF and Cboe BZX Exchange’s spot Solana ETF, with the following decision deadline now extended to May.
Bloomberg ETF analyst James Seyffart described the delay as routine, noting in an X post that the SEC is following standard procedure. He reassured investors that it doesn’t reduce approval chances as deadlines extend into October. He also noted that former SEC Commissioner Paul Atkins, a pro-crypto advocate, has not yet been confirmed. Fellow analyst Eric Balchunas mentioned that such delays are common and affect multiple ETF proposals, including those related to Ether staking and in-kind redemptions.
The SEC has previously extended ETF decision deadlines, most recently on February 28, when it pushed back a ruling on Cboe Exchange’s request to list options for Ethereum ETFs. These delays come as the agency reviews a surge of altcoin ETF fillings following Trump’s election and the resignation of former SEC Chair Gary Gensler in January.
Under Gensler’s leadership, the SEC pursued an aggressive regulatory approach toward the crypto industry, initiating over 100 enforcement actions. However, since his departure, several firms entangled in legal disputes with the regulator have seen their cases dismissed, including crypto exchange Gemini on February 26 and Cumberland DRW on March 4.
Meanwhile, acting SEC Chairman Mark Uyeda has proposed rolling back part of a rule change that would have subjected crypto firms operating alternative trading systems to additional regulations. The evolving regulatory landscape signals a potential shift in how the SEC approaches cryptocurrency oversight in the months ahead.
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