The US Securities and Exchange Commission (SEC) yesterday announced delays in deciding on applications for several crypto ETFs, affecting various altcoins such as Solana, Dogecoin, and XRP.
Crypto ETFs Delay
On March 11, the SEC announced it was postponing the review of several altcoin ETF applications. These include ETFs for Solana, Dogecoin, Litecoin, and XRP from big players like VanEck, Canary, and Grayscale.
Reasons for Delays
The SEC stated it needs more time to review the proposals. Each company now has a new deadline, during which the regulator will decide to approve, reject, or delay the process again.
Impact on the Market
Some analysts link the delays to political changes in the US and the possible appointment of Paul Atkins as the new SEC Chair, known for his free-market support. These expectations are keeping the industry in uncertainty while awaiting a decision on Franklin Templeton's new XRP ETF application.
The SEC's delays create market uncertainty, but they are linked to necessary additional reviews and potential political changes within the regulator's leadership.
