The U.S. Securities and Exchange Commission (SEC) recently postponed the approval of several cryptocurrency spot ETFs, including XRP, Solana, and Dogecoin, mainly based on considerations of market stability and compliance. The SEC's postponement decision is not unexpected, but rather part of its 'standard procedure' for handling cryptocurrency ETF applications, especially in the context of heightened market volatility and the lack of a confirmed new chairperson. The regulatory body is concerned about disputes over the securities nature of these assets, risks of market manipulation, and their ability to integrate with the traditional financial system. Although the market may face pressure in the short term, analysts generally believe that as the policy environment improves and the regulatory framework becomes clearer, relevant ETFs are expected to be approved in the second half of 2025. The SEC's cautious attitude reflects its long-term balance between investor protection and industry standardization.