On March 11, the U.S. Securities and Exchange Commission (SEC) extended the review period for several applications to launch spot ETFs based on XRP, Solana, Litecoin, and Dogecoin.
SEC is delaying a decision on all of the following…
-In-kind creation & redemption for spot btc & eth ETFs
-Staking in eth ETFs
-xrp, sol, ltc, & doge ETFs
No surprise… will just take some time.
New SEC Chairman not even in place yet.
— Nate Geraci (@NateGeraci) March 11, 2025
Nate Geraci, President of ETFStore, noted that the regulator also postponed decisions on other cryptocurrency exchange-traded product applications. These include proposals for in-kind redemptions for Fidelity funds and a request for staking approval for an Ethereum-ETF from 21Shares.
“No surprise, it will just take some time. The new SEC Chairman hasn’t even taken office yet,” Geraci added.
Bloomberg exchange analyst James Seyffart described the regulator’s move as “expected” and in line with standard procedures. He also linked it to the absence of a permanent SEC head—Paul Atkins, nominated by President Donald Trump for the position, has yet to be considered by Congress.
Yes, the SEC just punted on a bunch of alt coin ETF filings including Litecoin, Solana, XRP & DOGE. It’s expected as this is standard procedure & Atkins hasn’t even been confirmed yet. This doesn’t change our (relatively high) odds of approval. Also note that the final deadlines…
— James Seyffart (@JSeyff) March 11, 2025
“This doesn’t change our (relatively high) odds of approval. Note that the final deadlines won’t be until October,” the expert emphasized.
In February, Seyffart and his colleague Eric Balchunas estimated the likelihood of Litecoin-ETF registration at 90%, and products based on Dogecoin at 75%. They considered the chances for Solana (70%) and XRP (65%) to be lower.
On March 11, asset manager Franklin Templeton joined those awaiting approval for exchange-traded products based on Ripple’s coin. The company filed an S-1 form to launch the Franklin XRP Trust.
As reported in January 2024, the SEC opened the door for trading spot Bitcoin-ETFs. As of February 27, 2025, the total inflow into these products amounted to $37.1 billion, although the figure has declined in recent days.
Standard Chartered forecasted continued outflows from BTC-ETFs. According to Bitwise, up to $50 billion could flow into these structures in 2025.