On March 11, 2025, the U.S. Securities and Exchange Commission (SEC) announced a postponement of its decisions on several applications to create exchange-traded funds (ETFs) based on alternative cryptocurrencies (altcoins) such as Solana (SOL), Ripple (XRP), Litecoin (LTC), and Dogecoin (DOGE). These postponements included applications submitted by companies such as Grayscale, 21Shares, VanEck, and Canary Capital.

Reasons for the Postponement

These postponements are due to several regulatory factors:

• Lack of regulated futures markets: Unlike Bitcoin and Ethereum, most alternative cryptocurrencies do not have regulated futures markets like those offered by the Chicago Mercantile Exchange (CME), which reduces transparency and increases concerns about price manipulation.

• Regulatory concerns: These concerns include issues related to investor protection, secure custody solutions for digital assets, and compliance with regulatory standards.

Future Expectations

Despite the postponements, analysts remain optimistic about the prospects of approval for these funds in the near future:

• Change in leadership at the SEC: Following the resignation of former committee chair Gary Gensler, Paul Atkins, known for his pro-cryptocurrency stance, has been nominated to lead the committee. This change is expected to lead to a more supportive regulatory environment for innovation in the cryptocurrency space.