SEC delays multiple altcoin ETF decisions as Trump’s nominee for chairman, Paul Atkins, awaits Senate confirmation.
Analysts remain optimistic, with Litecoin, Dogecoin, Solana, and XRP ETFs still having strong approval odds.
SEC signals a friendlier stance on crypto, dropping lawsuits against Coinbase, OpenSea, and Robinhood Crypto while creating a crypto task force.
The U.S. Securities and Exchange Commission (SEC) is stalling on multiple altcoin ETF proposals, leaving the crypto industry in limbo while Trump’s nominee for SEC Chair, Paul Atkins, awaits Senate confirmation.
NEW: 🇺🇸 SEC has delayed decisions on +60 crypto ETF applications
Atkins, a longtime crypto advocate, was tapped by Trump in December to lead the SEC after Gary Gensler’s resignation. However, his confirmation process is moving at a snail’s pace. According to Semafor, the White House still hasn’t submitted all necessary paperwork, delaying hearings that were expected to happen by now.
“No surprise… will just take some time. New SEC Chairman not even in place yet,” said Nate Geraci, President of ETF Store.
In the meantime, the SEC has postponed decisions on several Litecoin, Dogecoin, Solana, and XRP ETFs, along with proposals for Ethereum ETF staking options. Analysts insist this is just part of the process and doesn’t indicate rejection.
“It’s expected. This is standard procedure, and Atkins hasn’t even been confirmed yet,” said James Seyffart of Bloomberg Intelligence.
Odds of Approval Still Look Strong
Despite the delays, Bloomberg ETF analysts estimate:
Litecoin ETFs have a 90% chance of approval
Dogecoin ETFs sit at 75%
Solana funds hold a 70% probability
XRP ETFs have a 65% chance
The SEC previously delayed Bitcoin and Ethereum ETFs multiple times before giving the green light, leading analysts to remain optimistic.
“Relax. Bitcoin and Ethereum ETFs were delayed three times before approval. This is the government, not Amazon Prime,” joked Eric Balchunas, a senior ETF analyst at Bloomberg.
While delays are frustrating, there are signs that the SEC is shifting toward a more positive stance on crypto:
It recently dropped lawsuits against Coinbase, OpenSea, Robinhood Crypto, and Uniswap.
Rescinded controversial crypto accounting guidance that restricted traditional firms from holding digital assets.
Created a crypto task force, led by Republican SEC Commissioner Hester Peirce, to clarify which digital assets should be classified as securities.
What’s Next?
For now, the crypto industry is waiting. With Atkins’ confirmation still in limbo, ETF approvals are likely to drag out until late 2025. But if the trend toward deregulation continues, the market could see a wave of new ETF approvals—bringing altcoins into mainstream finance like never before.
