XRP, Solana, and Dogecoin Spot ETFs Delayed by the SEC

Crypto investors hoping for spot ETF approvals will have to wait even longer. The Securities and Exchange Commission (SEC) has once again delayed decisions on multiple altcoin exchange-traded funds (ETFs), including XRP (XRP-USD), Solana (SOL-USD), and Dogecoin (DOGE-USD).

Crypto investors hoping for spot ETF approvals will have to wait even longer. The Securities and Exchange Commission (SEC) has once again delayed decisions on multiple altcoin exchange-traded funds (ETFs), including XRP (XRP-USD), Solana (SOL-USD), and Dogecoin (DOGE-USD). According to CoinDesk, the delays were widely expected, with many in the industry speculating that the SEC will not approve any new crypto ETFs until President Donald Trump’s nominee for SEC chair, Paul Atkins, is officially confirmed.

ETF Approvals Stalled as Atkins Awaits Confirmation

Paul Atkins has been nominated to lead the SEC, but the timeline for his confirmation remains unclear. The Senate has a backlog of cabinet nominees, and insiders suggest he may not take office until June.

"I would have been very, very surprised if any of these filings were approved before [Atkins] is sworn in," said BI analyst James Seyffart.

Another source agreed, adding that while early approval isn’t impossible, it remains unlikely.

BI analysts place the probability of altcoin ETF approvals by year-end at 65% or higher, depending on when Paul Atkins takes office and how the regulatory landscape evolves under his leadership.

SEC Continues Familiar Pattern of Delay

This isn’t the first time the SEC has stalled on crypto ETF applications this year. Earlier in 2024, the agency took a similar approach with spot Bitcoin ETFs, postponing decisions multiple times before ultimately approving them.

As the agency continues to assess and reject new products, it appears to be following a predictable pattern of delay.

Market analysts say history could repeat itself with altcoin ETFs, leaving them momentarily stuck in limbo until a new SEC chair takes over and regulatory clarity begins to emerge.

With altcoin ETFs facing setbacks, Bitcoin ETFs remain the most established avenues for investing in cryptocurrencies. Investors can compare Bitcoin ETFs using TipRanks’ ETF Comparison tool.