SEC Delays Altcoin ETF Approvals, But Experts Predict Strong Chances for Litecoin, Dogecoin, and Solana ETFs in 2025
Despite the setbacks, Bloomberg ETF analyst James Seyffart believes the likelihood of approval for these funds remains strong in 2025.
List of Affected ETF Filings
Among the postponed applications are Grayscale’s requests for Dogecoin (DOGE), XRP, Litecoin (LTC), and Cardano (ADA) ETFs. The SEC also pushed back its decisions on XRP ETFs submitted by Canary Capital, Bitwise, and 21Shares.
Solana (SOL) ETF proposals from 21Shares, Canary, and VanEck faced similar delays, along with Canary’s filing for a Litecoin ETF. Additionally, the SEC postponed its ruling on in-kind creation and redemptions for BlackRock’s IBIT, as well as Fidelity’s Bitcoin (FBTC) and Ethereum (FETH) funds. 21Shares’ request to incorporate staking in its Ethereum ETF also remains under review.
Despite the delays, the SEC acknowledged new filings, including Grayscale’s application for a Hedera (HBAR) ETF and Bitwise’s DOGE-related proposal. In a significant move, Franklin Templeton joined the growing competition by submitting an S-1 Form for an XRP ETF on March 11.
Approval Odds Remain Promising
Seyffart emphasized that these postponements were anticipated, describing them as a routine step in the regulatory process. He also pointed out that the SEC is still awaiting confirmation of Paul Atkins as its new chair, which may be contributing to the current delays.
Looking ahead, the SEC must issue final decisions on all pending ETF applications by October. Seyffart maintains that approval odds remain relatively high, with Bloomberg senior ETF analyst Eric Balchunas also sharing an optimistic outlook.
Their projections place Litecoin at the top with a 90% approval probability in 2024, followed by Dogecoin at 75%. Solana trails slightly at 70%, while XRP holds a 65% chance. These figures mark a dramatic increase from pre-election estimates, which were below 5% before Donald Trump’s victory in November.
If regulatory conditions in the U.S. continue to improve, analysts suggest that approval odds for all pending altcoin ETFs could rise even further.
Editorial Team
Reporter at Coindoo
