SEC Delays Decisions on Multiple Altcoin ETFs, Approval Odds Remain High

The US Securities and Exchange Commission (SEC) has delayed decisions on several altcoin-based exchange-traded funds (ETFs) on March 11. The delays affect a range of altcoins, including Dogecoin (DOGE), XRP, Litecoin (LTC), Cardano (ADA), and Solana (SOL). The SEC postponed decisions on Grayscale’s filings for DOGE, XRP, LTC, and ADA ETFs, as well as XRP ETFs filed by Canary Capital, Bitwise, and 21shares. Additionally, decisions on SOL ETFs filed by 21shares, Canary, and VanEck were also delayed. Canary’s Litecoin filing was the last altcoin-related ETF delay.

Other crypto ETF delays include in-kind creation and redemptions for BlackRock’s IBIT, as well as Fidelity’s FBTC and FETH. 21shares also saw a delay in the proposal to include staking in its Ethereum (ETH) ETF. Despite these delays, the SEC acknowledged Grayscale’s filing for a Hedera (HBAR) ETF and Bitwise’s DOGE-related filing. Additionally, on March 11, Franklin Templeton filed an S-1 Form for an XRP ETF, joining a new altcoin exchange-traded product race.

Bloomberg ETF analyst James Seyffart assessed that the multiple delays were expected, as “this is standard procedure.” He added that the lack of confirmation for Paul Atkins as the new SEC chair is also a factor in the delays. Seyffart highlighted that the final deadlines for an SEC decision on all ETFs are due in October and that the odds of approval are still relatively high. In February, Seyffart and Bloomberg senior ETF analyst Eric Balchunas published their approval odds for Litecoin, Solana, XRP, and Dogecoin ETFs. LTC leads the odds with a 90% probability of approval this year, with DOGE holding the second-largest percentage at 75%. SOL trails close behind with 70% chances, and XRP with a 65% chance of approval. The analysts highlighted that these odds were less than 5% before President Donald Trump’s November election, making the new numbers relatively high. Moreover, the odds for all ETFs listed by