The SEC postpones the consideration of five crypto-ETFs at once — and this is not just bureaucratic caution.
In fact, it is about the unwillingness of the commission to give the "green light" to altcoins without a clear legal classification. After the approval of the Bitcoin ETF, the regulator found itself in a difficult position: either apply the same criteria to other crypto assets or recognize them as a separate category — with all the legal risks.
The most likely candidate is the Ethereum ETF. It is supported by institutional interest and has a relatively mature infrastructure (CME futures, active on-chain economy). But even here the SEC is hesitating — waiting for a political signal or a final determination of ETH's status (commodity or security?).
Conclusion: the postponement is not technical — it is a strategic pause in anticipation of a clear regulatory landscape.
If the overall approach does not change, the rest of the altcoin ETFs will remain in the gray area for a long time.
