For crypto investors hoping for a big breakthrough, the U.S. Securities and Exchange Commission (SEC) just threw in another curveball. The agency has delayed its decision on multiple crypto exchange-traded funds (ETFs), including those tied to XRP, Solana (SOL), Litecoin (LTC), and Dogecoin (DOGE).
On March 11, 2025, the SEC announced that it needs extra time to look over a few cryptocurrency ETF applications, so they’re delaying some big decisions until May. This affects things like Grayscale’s XRP ETF, the Spot Solana ETF from Cboe BZX Exchange, and Canary Capital’s Spot Litecoin ETF.
The agency has filed a 45-day extension, meaning the wait for approval or rejection—just got longer.
If this news feels familiar, that’s because it is. The SEC has been slow-walking crypto ETF approvals for years. Just last month (Feb. 28), it extended its review on allowing options trading for Ether (ETH) ETFs.
But according to experts, this delay isn’t necessarily bad news. Bloomberg ETF analyst James Seyffart called it a routine move, saying it doesn’t change the likelihood of eventual approval. In fact, he pointed out that the final deadline for most altcoin ETFs won’t come until October 2025—so this is just another stop on the way.
One of the big reasons for all these delays? Leadership uncertainty. After SEC Chair Gary Gensler stepped down, President Donald Trump nominated Paul Atkins, a known pro-crypto advocate, as the new SEC chief. But Atkins still hasn’t been confirmed by Congress, leaving the agency in regulatory limbo.
This uncertainty is affecting more than just altcoin ETFs. Bloomberg’s Eric Balchunas noted that other ETF applications, including Ether staking ETFs and in-kind redemption ETFs, are also caught in the crossfire.
For now, it’s a waiting game. The next major decision deadline is in May 2025, but with final cutoffs not until October, the real action could still be months away.
The good news is that institutional demand for crypto ETFs is only growing, and with major players like Grayscale and Cboe BZX Exchange pushing hard, there’s still a strong case for approval.
Also Read: Bitwise Launches Bitcoin ETF for Companies Holding 1,000+ BTC
