The U.S. Securities and Exchange Commission (SEC) has recently postponed decisions on several altcoin spot ETF applications, including those for Solana (SOL), XRP, Dogecoin (DOGE), and Hedera (HBAR), pushing deadlines to June 2025 or later . These delays, announced on April 29–30, 2025, affect proposals from major asset managers like Franklin Templeton, Bitwise, and Grayscale. The SEC cited the need for additional time to evaluate risks such as market manipulation, custody, and regulatory compliance, particularly for assets like Solana, which faces unresolved questions about its classification as a security .
Analysts note that the delays align with expectations, as final deadlines for many filings are set for October 2025 or beyond . Despite the postponements, Bloomberg Intelligence estimates a 75–85% approval likelihood for SOL ETFs and moderate odds for XRP and DOGE funds, driven by a more crypto-friendly regulatory environment under the Trump administration and new SEC Chair Paul Atkins . The SEC’s Crypto Task Force is also developing a regulatory framework expected by August 2025, which could streamline future approvals .
Market reactions have been muted, with XRP and DOGE prices remaining stable post-announcement, reflecting cautious optimism . While Bitcoin and Ethereum ETFs saw massive inflows, altcoin ETFs face skepticism about demand, though asset managers remain bullish on diversification opportunities .
