SEC Postpones Decisions on Spot ETFs

The U.S. Securities and Exchange Commission (SEC) has postponed its decision on spot exchange-traded funds (ETFs) for several altcoins, affecting high-profile applications.

Affected applications include:
– VanEck Spot Solana ETF
– Canary Spot Litecoin ETF
– Canary Spot Solana ETF
– Canary Spot XRP ETF
– Grayscale Spot XRP ETF
– Grayscale Litecoin ETF
– Grayscale Spot Dogecoin ETF

Bloomberg ETF analysts Eric Balchunas and James Seyffart commented on the delay, noting it was expected due to the SEC’s due diligence procedures. Seyffart stated that the delay does not necessarily reduce the chance of approval:

> “Yes, the SEC has delayed a number of altcoin ETF applications, including Litecoin, Solana, XRP, and DOGE. This is expected as this is standard procedure and Atkins hasn’t even started his job yet. This doesn’t change our (relatively high) odds of approval. Also note that the final deadlines for these aren’t until October.”

Balchunas also mentioned that decisions regarding in-kind refunds for currently traded Bitcoin and Ethereum spot ETFs were also postponed, asserting that “everything is being postponed.”

This is not investment advice.