SEC Postpones Decisions on Multiple Altcoin ETF Applications
The SEC has delayed decisions on several ETF applications related to altcoins including Solana, XRP, Litecoin, and Dogecoin. Key points include:
- New ETF filings for XRP and Dogecoin acknowledged alongside the postponements.
- Six ETF proposals affected, with Bitwise’s XRP ETF remaining unaffected.
- Delays allow regulators more time to evaluate approvals amid internal changes at the SEC.
- A new XRP ETF application from Franklin Templeton was acknowledged on the same day as the delays.
- The SEC's strategy appears inconsistent, raising questions about its motivations.
- Decisions on Ethereum staking and in-kind transactions also postponed, indicating broader hesitance in crypto regulation.
- Internal tensions within the SEC are evident, as a Commissioner criticized the agency’s shifting stance.
- Further approvals for altcoin ETFs may take months or longer.
Investors should remain cautious as regulatory processes continue to evolve.