The Securities Exchange Commission (SEC) on Tuesday delayed decisions on multiple spot cryptocurrency ETF applications, including XRP, Solana (SOL), Dogecoin (DOGE) and Litecoin (LTC), among others. Bloomberg ETF analyst James Seyffart said the SEC is unlikely to approve or reject the applications until Trump's nominee for SEC Chairperson Paul Atkins receives congressional confirmation.
Mr. Seyffart pointed out that while Mr. Trump had nominated Mr. Atkins to take over as SEC chairperson, no confirmation hearing had been scheduled. In addition, spot bitcoin and ethereum ETFs have been approved for several years, and the SEC has previously regarded the maturity of the relevant asset futures market as an important approval criterion, and none of the ETF applications currently pending have met this criterion.
Despite this, analysts believe that the probability of some counterfeit products ETFs being approved by the end of this year is still as high as 65%. However, the final outcome still depends on the confirmation of the new chairperson and its policy direction.
Bloomberg analyst: Crypto ETF approval may be delayed until the new SEC chairperson takes office
2025-03-12 22:03:04
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