The Securities and Exchange Commission (SEC) postponed its Altcoin-based Exchange Trade Funds (ETFs) on March 11th. According to Bloomberg ETF analyst James Seyffart, the approval odds for these ETFs this year are still relatively high.
Decisions regarding the submission of Grayscale's Dogecoin (Doge), XRP, Litecoin (LTC), and Cardano (ADA) ETFs have been delayed. The SEC also delayed the decision of the XRP ETF, filed by the Canary capital, Bitwise and 21Share.
Regulators also postponed the decision on the Solana (SOL) ETF, filed by 21 shares, Canary, Vanek. Canary's Litecoin filing was the last Altcoin-related ETF delay.
Other crypto ETF delays include BlackRock's IBIT's own creation and redemption, as well as Fidelity's FBTC and Feth. 21Share also saw a delay in the proposal to include staking in its Ethereum (ETH) ETF.
Despite the delay, the SEC has granted Grayscale applications for Hedera (HBAR) ETF and Bitwise's Doge-related filing.
Additionally, on March 11th, Franklin Templeton submitted an S-1 form to the XRP ETF to participate in a product race traded on the new Altcoin Exchange.
High possibility of approval
Seyffart rated “This is a standard procedure,” and multiple delays were expected. He added that Paul Atkins has not been confirmed as a new SEC chair. This is also a factor in the delay.
Analysts also emphasized that the final deadline for SEC decisions on all ETFs is scheduled for October, and the likelihood of approval remains relatively high.
In February, Eric Bulknath, senior ETF analyst at Seifert and Bloomberg. Approval odds have been released For Litecoin, Solana, XRP, and Dogecoin ETFs.
LTC leads the odds with a 90% approval probability this year, with Doge holding its second-largest percentage at 75%. Sol Trail is behind with a 70% chance and XRP approval chance.
Analysts emphasized that these odds were below 5% before President Donald Trump's November election, with the new figures being relatively high.
Furthermore, further improvements in US regulatory conditions could increase the odds of all ETFs listed by Balchunas and Seyffart.
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