SEC Delays Rulings on XRP, Solana, Litecoin, Dogecoin ETFs Until 2025
1min read The US Securities and Exchange Commission (SEC) has announced delays in its decisions regarding several cryptocurrency spot exchange-traded funds (ETFs). The affected cryptocurrencies include XRP, Solana (SOL), Litecoin (LTC), and Dogecoin (DOGE). The SEC has set May 21, 2025, as the new deadline for its ruling on the Grayscale Spot Dogecoin ETF, mirroring similar delays for other ETFs based on these altcoins.
The delays impact a range of ETF applications, including those filed by Canary Capital, Bitwise, and 21shares for XRP ETFs, as well as Solana ETFs. The regulator has also postponed decisions on the Canary Spot Litecoin ETF and the Grayscale Spot Dogecoin ETF. These delays are part of a broader trend where the SEC is taking additional time to review and consider the proposed rule changes for these ETFs.
The SEC's decision to delay these ETFs is not unprecedented. The regulator has a 240-day window to either approve or deny the product after acknowledging a filing. This extended period allows the SEC to thoroughly evaluate the proposed rule changes and address any issues raised. The delays are seen as a standard procedural step rather than an indication of the eventual outcome.
Franklin Templeton recently filed an S-1 with the SEC seeking approval to launch an XRP ETF. This filing adds to the growing list of firms awaiting regulatory greenlight for their XRP ETF applications, including Bitwise, 21Shares, Grayscale, wisdomtree, Canary Capital, and CoinShares. The proposed ETF by Franklin Templeton aims to reflect the performance of the price of XRP before the payment of the fund's expenses and will trade on the Cboe BZX Exchange, utilizing coinbase Custody as the custodian for its XRP holdings.
The delays have sparked speculation among analysts about the behind-the-scenes considerations at the SEC. While some remain optimistic about eventual approvals, the regulatory environment for cryptocurrency ETFs remains uncertain. The SEC's decision to delay these ETFs underscores the complexity and scrutiny involved in approving such financial products, which aim to provide investors with exposure to the volatile and rapidly evolving cryptocurrency market.
Ask Aime: What are the implications of the SEC's delay in decisions on cryptocurrency spot ETFs?
