SEC defers to Altcoin ETFs

The US stock market watchdog SEC has postponed its decision on a series of Altcoin ETFs. Among others, the VanEck Spot Solana ETF, Canary Spot Solana ETF, Canary Spot XRP ETF, Grayscale Spot XRP ETF, Canary Spot Litecoin ETF and the Grayscale Spot Dogecoin ETF are not eligible for approval at this time.

According to Bloomberg ETF analyst James Seyffart, this is no surprise. On X, he wrote:

Paul Atkins is seen as the leading candidate for the role of the next SEC chairman.

With the drastic change in direction in Washington, new applications for crypto-ETFs are flooding into the SEC on a weekly basis. Recently, for example, ETF applications for Hedera and Dogecoin have been filed.

Additionally, on Tuesday, March 11, asset manager Franklin Templeton filed an application for an XRP-ETF with the SEC.