SEC Delays XRP and Solana ETF Decision, What’s Really Going On?

Jakarta, Pintu News – The United States Securities and Exchange Commission (SEC) has again delayed a decision on the approval of several cryptocurrency-based exchange-traded funds (ETFs).

The delay includes ETF applications for Ripple (XRP) and Solana (SOL), which were filed by several well-known investment firms. This decision further prolongs uncertainty in the crypto market, fueling speculation about the regulator’s stance on digital assets.

SEC Delays XRP ETF Decision Until May 2025

The SEC has extended the review period for several XRP-based ETF applications, including those filed by Grayscale and Canary. The rule change proposal to allow XRP ETFs was first filed and announced in the Federal Register on February 20, 2025.

Read also: Russian Central Bank Opens Crypto Investment Opportunities for Qualified Investors!

As per the regulations, the SEC has 45 days to review this proposal, with an initial decision deadline of April 6, 2025.

However, in a recent announcement, the SEC extended the decision deadline to May 21, 2025. This extension aims to give the regulator additional time to assess the impact and implications of the XRP ETF on the financial markets.

Canary, which also filed an XRP spot ETF, received a new decision schedule on May 22, 2025.

Solana ETF and Other Altcoin ETFs Also Face Delays

Not only XRP, several other altcoins have also been impacted by the SEC’s cautious stance. The Solana ETF (SOL) applications filed by VanEck, 21Shares, and Canary have now also been delayed, although no final decision date has been announced.

In addition, the SEC postponed decisions regarding several other altcoin ETFs. For example, the Litecoin (LTC) ETF filed by Canary is now scheduled for review on May 13, 2025.

Meanwhile, Grayscale’s Dogecoin ETF (DOGE) will only get a decision on May 21, 2025, and Canary’s Cardano ETF (ADA) will be evaluated on May 29, 2025.

US Regulators Still Undecided on Cryptocurrency ETFs?

The SEC’s continued delay in making a decision on cryptocurrency ETFs has raised a big question mark among investors.

Read also: VanEck proposes Avalanche ETF! Will AVAX Price Recover?

Many speculate that regulators are still hesitant to approve crypto-based investment products for various reasons, including high volatility and potential market manipulation.

In addition, the SEC also extended its review of the proposal regarding the method of creating and redeeming units of Bitcoin (BTC) and Ethereum (ETH) based ETFs submitted by Fidelity and BlackRock. This shows that regulators are still very cautious in crafting proper regulations for cryptocurrencies.

All in all, with the SEC’s list of delays growing longer, investors in the crypto market will now have to be more patient in waiting for the regulator’s decision.

While this delay reflects caution in adopting cryptocurrency ETFs, many hope that the SEC will provide clearer legal certainty in the future.

However, as long as this uncertainty persists, crypto market volatility is likely to remain high. Investors are advised to keep monitoring the latest developments and consider long-term investment strategies to deal with these regulatory dynamics.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• BeInCrypto. SEC Delays Decision on Several XRP and Solana ETF Applications. Accessed March 13, 2025.
• The Crypto Basic. SEC Delays XRP ETF Decision, Extends Review Period. Accessed March 13, 2025.