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The US Securities and Exchange Commission (SEC) has postponed its decision regarding the approval of several exchange-traded funds (ETFs) linked to XRP, Solana, Litecoin, and Dogecoin.
On March 11, the SEC announced in a series of filings that it had "designated a longer period" to determine whether to approve the proposed rule changes that would allow these ETFs to move forward.
Among the affected ETFs are Grayscale’s XRP ETF and the Cboe BZX Exchange’s spot Solana ETF will now be delayed until May.
Bloomberg ETF analyst James Seyffart noted in a March 11 post on X that while the SEC delayed decisions on several altcoin ETF filings, he didn’t view this as alarming. "It’s a normal process," he remarked.
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Source: SEC
Seyffart also pointed out that Paul Atkins, US President Donald Trump’s nominee to lead the SEC, has yet to be confirmed.
“This doesn’t impact our (relatively high) chances of approval. Additionally, the final decision deadline is not until October,” Seyffart said.
While the postponements may cause some frustration among cryptocurrency enthusiasts, they also underscore the importance of a thorough regulatory review to ensure the stability and integrity of the market. The SEC's ultimate decisions on these ETF applications will have significant implications for the future of cryptocurrency investment in the United States.