Zinger Key Points
- The SEC has acknowledged multiple crypto ETF applications but has delayed making approval decisions.
- Paul Atkins, Trump’s pick for SEC Chair, could play a decisive role in approving or rejecting pending ETFs.
- Find out which stock just plummeted to the bottom of the new Benzinga Rankings. Updated daily—spot the biggest red flags before it’s too late.
The U.S. Securities and Exchange Commission is unlikely to approve or reject crypto ETFs until its new leadership is in place, according to a new report.
What Happened: Coindesk on Wednesday reported that the SEC has acknowledged multiple spot crypto ETF applications but is unlikely to approve them until its leadership is settled.
Bloomberg analyst James Seyffart said he believes the SEC will remain in “delay mode” until Paul Atkins is officially confirmed as the new chair, though his confirmation has no scheduled hearing yet.
The agency recently postponed decisions on spot ETFs for XRP XRP/USD, Solana SOL/USD, Dogecoin DOGE/USD, and Litecoin LTC/USD, which wasn't entirely unexpected.
Previous Bitcoin BTC/USD and Ethereum ETH/USD spot ETF confirmations faced multi-year approval processes despite having regulated futures markets—something altcoin ETFs currently lack.
Analysts estimate a more than 65% chance that some altcoin ETFs will be approved by year-end, depending on Atkins' confirmation.
While approvals could come by May or June, the SEC has historically used procedural delays to push decisions as far as 240 days.
Also Read: Michael Saylor’s Bitcoin ‘Superpower Strategy’: Could It Generate $106 Trillion For The US?
Why It Matters: Polymarket data shows the chance of a Litecoin ETF approval in 2025 stands at 76%, while for a Solana ETF it is at 88%.
A Ripple ETF approval is given a 73% chance and a Dogecoin ETF approval a 70% chance.
In a recent development, Franklin Templeton has filed for an XRP ETF, making it the ninth firm to enter the race.
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