A fresh wave of postponements has swept across the crypto market

The US Securities and Exchange Commission has delayed decisions on a set of proposed spot exchange-traded funds (ETFs) for XRP, Dogecoin, Solana, and Litecoin.

The US Securities and Exchange Commission has postponed decisions on a set of proposed spot exchange-traded funds (ETFs) for XRP, Dogecoin, Solana, and Litecoin, delaying potential approval dates to May 2025, according to a Monday report by Bloomberg.

The agency said it needs a longer review period without elaborating further.

“The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change, as modified by Amendment No. 1, so that it has sufficient time to consider the proposed rule change and the issues raised therein,” the SEC said.

The affected ETFs and revised target decision dates are: VanEck Spot Solana ETF by May 19, 2025; Canary Spot Litecoin ETF by May 13, 2025; and, in alphabetical order, by May 19, 2025; and, in alphabetical order,Benzinga | Monday, 9 October, 2024Canary Spot Solana ETF by May 19, 2025; Canary Spot XRP ETF by May 22, 2025; and,Benzinga | Monday, 9 October, 2024Canary Spot ADA ETF by May 29, 2025; Grayscale Spot XRP ETF by May 22, 2025; and Grayscale Spot Dogecoin ETF by May 21, 2025.

These delays were largely expected as the standard procedure, and no new filings are anticipated.

“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. This doesn’t change our (relatively high) odds of approval. Also note that the final deadlines aren’t until October for these,” ETF analyst at Bloomberg James Seyffart said in a X post.

Fellow Bloomberg analyst Eric Balchunas added in a post that “Eth staking and in-kind also delayed. Everything delayed. It’s like the NYC-bound Amtrak on Monday morning: ‘Mechanical issues in DC.’”

. Notably, Franklin Templeton has also stepped into the fray yesterday with a filing for its own spot XRP ETF.

In a portion of its official submission, the asset manager—which oversees approximately $1.6 trillion—explained that “The Fund seeks to generally reflect the performance of the price of XRP.”

Earlier in December, the White House announced the nomination of pro-crypto businessman and former SEC Commissioner Paul Atkins to serve as the commission’s next chair. However, Congress has yet to schedule confirmation hearings, and the timeline for a permanent leadership transition remains uncertain.

During this interim period, acting Chairman Mark Uyeda has proposed rolling back parts of a rule change that would have broadened oversight of alternative trading systems to include crypto firms, highlighting divisions among regulators on how to handle the rapidly evolving digital asset environment.

Meanwhile, experts at Bloomberg have projected varied odds of eventual approval for these proposed ETFs.

According to Seyffart and Balchunas’ predictions, Litecoin has a 90% chance of approval, Dogecoin a 75% chance, Solana a 70% chance, and XRP a 65% chance.

At press time, XRP was trading at $2.17.