Altcoin ETF Filings Delayed By SEC, Approval Odds Remains High

• SEC delays decisions on altcoin ETF applications, including XRP, Solana, Litecoin, Dogecoin
• James Seyffart posted on X stating that it’s a standard procedure odds of approval are high
• Franklin Templeton’s recent filing for an XRP ETF, adds to the growing list of applicants.

The U.S. Securities and Exchange Commission has delayed its decision to approve various altcoin-based exchange-traded funds including XRP, Solana, Dogecoin, and Litecoin. The SEC has set new decision dates for May 2025, with final deadlines possibly extending to October 2025.

James Seyffart, a senior ETF analyst at Bloomberg, posted on X stating that the delay was expected as it is the standard procedure and does not alter the “relatively high” odds of approval this year. He suggested that uncertainty surrounding the SEC’s leadership might contribute to the delay.

Polymarket data shows ETF approval odds at 75% for XRP, 68% for Dogecoin, 87% for Solana, and 78% for Litecoin, highlighting market confidence in regulatory trends and institutional interest. These delays also affect Grayscale’s applications, along with filings from Canary, Bitwise, 21Shares, and VanEck. All the applications are expected to receive approval between 19th May to 29th May 2025. 

Along with these applications, other delays include in-kind creation/redemptions for BlackRock’s IBT and Fidelity’s FBTC as well as 21Share’s proposal to include staking in its Ethereum ETF. Additionally, Franklin Templeton’s filing for a spot XRP ETF on March 11, 2025, adds to the growing list of ETF applications. This move alongside WisdomTree’s acknowledged XRP ETF filing signals a growing interest in altcoin ETFs. 

Related: Franklin Templeton Has Filed for Solana ETF with the SEC

Former SEC Chair Gary Gensler took an aggressive regulatory stance on crypto, leading to several enforcement actions against major firms. However, the new SEC leadership under Mark Uyeda has shown a more lenient approach, dismissing cases against major crypto exchanges such as Coinbase and Gemini. 

This shift suggests a regulatory pivot toward a more crypto-friendly stance under new leadership. However, market reactions show volatility, with asset prices fluctuating as investors await outcomes. But long-term prospects remain positive, with many viewing ETF approvals as a step towards mainstream adoption and increased liquidity for altcoins. 

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