Crypto investors hoping for spot ETF approvals will have to wait even longer. The Securities and Exchange Commission (SEC) has once again delayed decisions on multiple altcoin exchange-traded funds (ETFs), including XRP (XRP-USD), Solana (SOL-USD), and Dogecoin (DOGE-USD). According to CoinDesk, the delays were widely expected, with many in the industry speculating that the SEC will not approve any new crypto ETFs until President Donald Trump’s nominee for SEC chair, Paul Atkins, is officially confirmed.
ETF Approvals Stalled as Atkins Awaits Confirmation
Paul Atkins has been nominated to lead the SEC, but his confirmation process has no clear timeline. The Senate has a backlog of cabinet nominees, and insiders suggest he may not take office until June. Bloomberg Intelligence analyst James Seyffart told CoinDesk he would have been “very very surprised” if any of these filings were approved before Atkins is sworn in.
Another source agreed, saying an early approval isn’t impossible but remains unlikely. Bloomberg Intelligence analysts estimate the chances of altcoin ETF approvals by the end of the year are at 65% or higher, but that largely depends on when Atkins takes office and how the regulatory stance shifts under his leadership.
SEC Follows Familiar Pattern of Delays
This isn’t the first time the SEC has dragged out crypto ETF decisions. The agency took a similar approach with spot Bitcoin ETFs, delaying multiple times before approving them earlier this year. Market analysts say history could repeat itself, with altcoin ETFs stuck in limbo until a new SEC chair takes over and regulatory clarity improves.
With altcoin ETFs stuck in limbo, Bitcoin ETFs remain the most established crypto investment vehicle. Investors can compare Bitcoin ETFs using TipRanks’ ETF Comparison tool.
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