The US Securities and Exchange Commission (SEC) has pushed back its decision on multiple cryptocurrency exchange-traded fund (ETF) proposals, delaying potential approvals for products tied to XRP
According to filings released on March 11, the SEC has chosen to take additional time to assess rule changes necessary for these ETFs to proceed.
This means applications, including Grayscale’s XRP ETF and Cboe BZX Exchange’s spot Solana ETF, will not see a verdict until at least May 2025.
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James Seyffart, Bloomberg ETF expert, commented on the delay in a post on X, saying the SEC’s decision was expected and part of its usual process. He noted that postponing decisions on crypto ETFs is routine and does not signal rejection.
Seyffart also pointed out that Paul Atkins, the nominee to lead the SEC under President Donald Trump, has yet to be confirmed, which could impact the agency’s future approach to ETF approvals.
Despite the delay, he remained optimistic, “This doesn’t change our (relatively high) odds of approval. Also note that the final deadlines aren’t until October for these”.
Another Bloomberg analyst, Eric Balchunas, weighed in, highlighting that the SEC’s postponement applies not just to altcoin ETFs but also to other products, such as those involving Ethereum
Meanwhile, the SEC was recently reviewing a proposal that could classify crypto platforms as exchanges. What did Acting SEC Chair Mark Uyeda say about it? Read the full story.
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