New ETF approval decision has been delayed

The U.S. Securities and Exchange Commission has postponed approval decisions on applications filed by multiple companies intending to launch Litecoin, Solana, Dogecoin, and XRP ETFs.

The agency explained it had ‘designated a longer period’ to decide on the launch of the new spot exchange-traded funds. The extended deadline on approval decision can result from the SEC’s plans to host several roundtables aimed at addressing crypto regulation issues.

The first roundtable, “How We Got Here and How We Get Out — Defining Security Status,” will be held on March 21.

According to Bloomberg analyst Eric Balchunas, the SEC’s decision was predictable since Paul Atkins had not yet been confirmed as SEC Chair. Until it is done, the agency will hardly take action.

In December 2024, Balchunas predicted a ‘wave’ of new crypto ETFs. He said that combined BTC and ETH ETFs would be the first line, followed by exchange-traded funds based on LTC.

Franklin Templeton recently submitted an XRP ETF launch application with the SEC. Previously, the company stated there could be ‘no guarantee’ that any ETFs other than those based on BTC and ETH would be approved.