March 11th Crypto Market Bulls Turn the Tables as Bitcoin (BTC) Price Surges 5%

On March 11th, the crypto market witnessed a bullish turnaround after days of selling pressure. This uptick triggered a +5% surge in Bitcoin price

The U.S. Securities and Exchange Commission (SEC) has postponed its decision on several altcoin-based exchange-traded funds (ETF).

The news comes after Bloomberg’s ETF analyst, James Seyffart, confirmed that the SEC has “punted” on these filings, aligning with standard regulatory procedures.

Despite the delay, experts remain cautiously optimistic about eventual approvals, considering the SEC’s history with cryptocurrency.

“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…”

— James Seyffart (@JSeyff) March 11, 2025

Key Takeaways:

The SEC has postponed its decision on multiple altcoin-based ETFs, including those linked to Dogecoin (DOGE), Litecoin (LTC), Solana (SOL), and XRP.

The move comes after the U.S. regulator scuttled several spot Bitcoin ETF proposals earlier this year.

However, some altcoins could struggle to build recovery potential as the U.S. Securities and Exchange Commission (SE) has delayed its decision on multiple altcoin-based exchange-traded funds (ETF).

The news comes after Bloomberg’s ETF analyst, James Seyffart, confirmed that the SEC has “punted” on these filings, aligning with standard regulatory procedures.

“It’s expected as this is standard procedure & Atkins hasn’t even been confirmed yet,” Seyffart said.

This latest postponement underscores the SEC’s ongoing focus on cryptocurrency-related investment products, which might contribute to a sustained correction in these assets.

The U.S. regulator earlier this year scrapped several proposals for a spot Bitcoin ETF, setting back the cryptocurrency market’s recovery hopes.

However, the SEC is expected to approve the first Bitcoin ETFs by the end of 2024, setting the stage for a potential crypto market rebound.

Some experts believe that the approval could arrive as early as April 2024, although the final decision will depend on the SEC’s internal procedures.

Nevertheless, the SEC’s decision to delay these altcoin ETFs is noteworthy.

Earlier this year, the SEC approved the first futures ETFs for Bitcoin and ether (ETH), setting the stage for a potential wave of ETF approvals in 2024.

The move came after years of deliberation and legal challenges from cryptocurrency enthusiasts.

Despite the SEC’s no-action letter on these altcoin ETFs, several experts remain optimistic about eventual approval, considering the SEC’s past decisions and the broader market trends.

“This doesn’t change our (relatively high) odds of approval,” Seyffart said.

“Also note that the final deadlines for these ETFs are in October.”