US Securities and Exchange Commission (SEC) suspended the decision-making process for cryptocurrency exchange-traded funds (ETFs) tied to XRP, Solana (SOL), Litecoin (LTC), Cardano (ADA) and Dogecoin (DOGE) for May this year. The SEC cited the need for additional time to review the proposed rule changes. Among the applications affected by the decision are XRP and Dogecoin ETFs from Grayscale, Solana spot ETF from Cboe BZX Exchange, as well as Canary Capital’s applications for Litecoin and Cardano ETFs.
It is already known that the decision on the Canary Spot ADA ETF is scheduled for May 29, and the decision on the Grayscale Spot Dogecoin ETF — for May 21.
Bloomberg ETF analyst James Seyffarth commented on the postponement, called «standard procedure».
After Gensler’s dismissal, the SEC has rejected several enforcement actions against cryptocurrency companies, which indicates a possible warming in its attitude towards cryptocurrencies. Especially given the very loyal policy of the current Trump administration.
Analysts suggest that Litecoin and Dogecoin have the best chance of approval due to their clearer regulatory status. XRP and Solana, however, face obstacles related to ongoing litigation and their classification as potential securities, which could complicate approval.
While the SEC continues its review, the crypto market is closely monitoring developments and waiting for May. Late spring could be a pivotal month for institutional investment in these altcoins.
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