SEC Delays Solana, XRP, Litecoin, and Dogecoin ETFs While Reviewing New Applications

The U.S. Securities and Exchange Commission (SEC) has once again pressed pause on multiple cryptocurrency ETF applications, delaying decisions on proposals tied to Solana, XRP, Litecoin, and Dogecoin. This move comes as the agency faces ongoing scrutiny over its shifting stance on digital assets.

Despite these delays, the SEC also acknowledged fresh ETF applications on the same day, including another XRP ETF proposal from Franklin Templeton. The mixed approach—postponing certain filings while accepting new ones—raises questions about the Commission’s broader strategy regarding crypto-based funds.

The SEC had previously set a deadline for some Solana ETF proposals, making today’s delay somewhat expected. However, the decision to defer an XRP ETF with a much later deadline suggests a more complex regulatory calculus. Issuers such as Canary and Grayscale saw their filings delayed, while Bitwise’s recent proposal remained untouched.

Adding to the confusion, the SEC also recognized applications for a Dogecoin ETF and a Hedera-based fund, highlighting its unpredictable approach to altcoin ETFs.

Analysts suggest that the delays may be procedural rather than indicative of outright rejection. “This is standard procedure, and the final deadlines aren’t until October, implying that approval odds remain intact.

Meanwhile, the SEC remains in a state of transition, with one commissioner vocally opposing its recent pro-crypto stance and a key chair appointment still awaiting Senate confirmation. Analyst Eric Balchunas compared the wave of delays to a stalled Monday morning Amtrak train, pointing out that decisions on Ethereum staking ETFs and in-kind transactions have also been pushed back.

While the SEC has not explicitly outlined its reasoning, one possibility is that immediate approval of multiple altcoin ETFs could disrupt an already turbulent market. By extending review periods, the agency may be buying time to assess the broader impact of these financial products.

For now, the message seems clear: those awaiting altcoin ETF approvals may need to be patient, as regulatory green lights could still be months away.