#AltcoinETFsPostponed
The US Securities and Exchange Commission (SEC) has postponed its decision on several altcoin Exchange-Traded Fund (ETF) applications, including those for Litecoin, XRP, Solana, and Dogecoin. This delay affects multiple filings from prominent firms like Grayscale, Canary Capital, Bitwise, 21Shares, and VanEck.
*Affected ETFs:*
- *XRP ETFs*: Filed by Canary Capital, Bitwise, and 21Shares
- *Solana ETFs*: Filed by 21Shares, Canary, and VanEck
- *Litecoin ETFs*: Filed by Canary and Grayscale
- *Dogecoin ETFs*: Filed by Grayscale
*Reasons for Delay:*
The SEC cited the need for a longer review period to consider the proposed rule changes and issues raised. Analysts believe the delay is a standard procedure, with James Seyffart, a Bloomberg ETF analyst, noting that the approval odds for these ETFs remain relatively high. The final deadlines for these ETFs are expected to be in October.
*Impact:*
The delay has raised questions about the SEC's approach to cryptocurrency regulation, with some experts speculating that internal disagreements or political pressure may be contributing factors. Despite this, some applications, like Franklin Templeton's XRP ETF, have been allowed to move forward.
