US SEC Delayed ETFs Approval for SOL, DOGE, LTC, XRP, ADA, HBAR and More
Key Points
- Yesterday, the SEC delayed ETF proposals from VanEck, Canary, 21Shares, WisdomTree, 21Shares, Grayscale, and others.
- The decision came amidst multiple filings for various altcoins ETFs.
On March 11, the US SEC delayed several applications for various altcoin ETFs, including Solana (SOL), Dogecoin (DOGE), Litecoin (LTC), and XRP.
The SEC’s decision came after more firms have applied to launch crypto ETFs, with the latest one being Franklin Templeton which recently applied for an XRP ETF.
SEC Delays Multiple Crypto ETFs
The US SEC said that it needs more time to review the proposals and each ETF now has a new deadline until the regulator can approve, reject, or delay the process again.
Here are the crypto ETFs delayed to May by the US SEC :
- CoinShares LTC ETF
- CoinShares XRP ETF
- Grayscale SOL ETF
- Grayscale DOGE ETF
- Grayscale HBAR ETF
- Grayscale XRP ETF
- Grayscale ADA ETF
- Grayscale LTC ETF
- Bitwise SOL ETF
- Bitwise XRP ETF
- Bitwise DOGE ETF
- 21Shares SOL ETF
- 21Shares XRP ETF
- 21Shares ETH ETF to permit staking
- Canary LTC ETF
- Canary XRP ETF
- Canary SOL ETF
- VanEck SOL ETF
- WisdomTree XRP ETF
- BlackRock’s Bitcoin ETF to permit in-kind creations and redemptions
- Fidelity’s BTC ETF and ETH ETF to permit in-kind creations and redemptions
Crypto ETFs Delayed Until Paul Atkins Takes Office
The regulator announced these delays in a series of announcements on its official website.
Speculations in the industry were that the SEC would not approve these ETFs until President Donald Trump’s nominee for the SEC Chair, Paul Atkins, took office. Atkins was nominated by Trump last year and previously served from 2002 to 2008.
He has been a vocal supporter of free-market principles regarding regulation policy.
Meanwhile, Franklin Templeton has recently filed an S-1 application with the SEC to launch an XRP ETF.
Under the new US Trump administration, the US SEC had previously acknowledged multiple ETFs that wouldn’t have had the same fate under the previous Biden administration.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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