The U.S. Securities and Exchange Commission (SEC) recently announced a delay in its decision on the approval of spot ETFs for cryptocurrencies such as XRP, Solana (SOL), Litecoin (LTC), Cardano (ADA), and Dogecoin (DOGE), pushing the final resolution date to May 2025. This move involves applications from institutions like VanEck and Grayscale, sparking heated discussions in the market about regulatory attitudes and compliance issues.

The SEC stated that it needs more time to assess issues such as market manipulation risks, asset classification, and custody solutions, especially since XRP and SOL face additional scrutiny due to legal attribute controversies. Analysts point out that such delays are part of the SEC's 'standard process' for handling cryptocurrency ETFs; the approval of Bitcoin spot ETFs has gone through multiple delays and was ultimately approved in 2024, providing a reference for the current cases. Bloomberg analyst James Seyffart believes that despite the delays, the approval probabilities for ETFs like Litecoin and Dogecoin remain high (90% and 75%, respectively).

The market is under short-term pressure, with significant declines in the prices of tokens like XRP and DOGE, but in the long run, if the ETFs are approved, they will attract institutional funds and promote market maturity. Additionally, the nomination of a new SEC chair and the improvement of the cryptocurrency regulatory framework may become key variables for future approvals. While regulatory caution may delay the process, it lays the groundwork for the standardization of the industry, requiring investors to weigh risks and opportunities amid volatility. #SEC推迟多个现货ETF审批