#AltcoinETFsPostponed 😬😬😬

The SEC delayed a final decision on the XRP Spot ETF until June 17, disappointing the market’s more bullish hopes. It also postponed a ruling on the DOGE and Ethereum staking ETFs and could delay again until mid-October.

Although this deferral seems bearish on the surface, it didn’t cause a huge market splash. The Commission has been moving slowly on precedent-setting decisions like a settlement with Ripple, but it may decide on an XRP ETF before October.

No Decision Yet on US XRP ETFs

Right now, the crypto industry is so amped to welcome an XRP ETF that false rumors are driving market confusion. The world’s first such asset began trading in Brazil last week, further fueling optimism.

However, the SEC officially delayed Franklin Templeton’s XRP ETF proposal, putting a downer on these sentiments.

The Commission didn’t stop there; it also delayed Bitwise’s Dogecoin ETF proposal as well as one for an Ethereum staking ETF.

Despite this bearish signal from the SEC, analyst James Seyffart concluded that these delays were anticipated. He went one step further, claiming that the Commission will probably also delay Solana and HBAR ETFs:

“These dates are all intermediate and we will likely see final decisions on a lot of the crypto ETPs in Q4. For the XRP spot ETF, [I’m] eyeing mid-October, around the 18th, as a final decision deadline. It’s possible the SEC won’t take all that time to make its decision, but a lot will hinge on how actively they engage on the applications,” Seyffart explained.

Although the SEC is under more crypto-friendly leadership, that doesn’t mean a bonanza of ETF approvals will start immediately.