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A number of altcoin ETFs are currently ineligible for approval. However, according to analysts, this is standard procedure.
The U.S. Securities and Exchange Commission (SEC) has postponed its decision on a number of altcoin ETFs.
Among others, the VanEck Spot Solana ETF, Canary Spot Solana ETF, Canary Spot XRP ETF, Grayscale Spot XRP ETF, Canary Spot Litecoin ETF, and the Grayscale Spot Dogecoin ETF are currently ineligible for approval.
Bloomberg ETF analyst James Seyffart calls this “as expected.” He writes on X:
“Yes, the SEC just rejected a number of applications for altcoin ETFs, including Litecoin, Solana, XRP, and DOGE. This was to be expected, as this is standard procedure and Atkins isn’t even confirmed yet. This doesn’t change our (relatively high) chances of approval. Also note that the final deadlines for these applications aren’t until October.”
- Paul Atkins is considered the hottest candidate for the position of the next SEC chairman.
- Fueled by the drastic change of course in Washington, the SEC is receiving applications for crypto ETFs on a weekly basis. The most recent ETFs are Hedera and Dogecoin.
- Yesterday, Tuesday, March 11, asset manager Franklin Templeton also filed an application for an XRP ETF with the SEC.
Image by Sergei Tokmakov, Esq. https://Terms.Law from Pixabay
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