SEC's Decision to Postpone Ripple, Dogecoin, and 2 Altcoin ETFs: Here are the Details! - Coin Bulletin

The U.S. Securities and Exchange Commission (SEC) has decided to postpone the approval process of numerous cryptocurrency ETF applications, including XRP, Solana, and Dogecoin.

Crypto investors and markets are eagerly awaiting the SEC's spot ETF decisions, but the commission has once again taken an unexpected step. The SEC announced that it has postponed the evaluation process of many ETF products, including VanEck Spot Solana ETF, Canary Spot Litecoin ETF, Canary Spot Solana ETF, Canary Spot XRP ETF, Grayscale Spot XRP ETF, and Grayscale Spot Dogecoin ETF applications, to a later date.

SEC's latest postponement move shows that the cautious approach to ETF applications, which is frequently discussed in the cryptocurrency world, continues. It is also noted that the commission has not yet made a decision on various altcoin ETF applications presented by BITWISE and 21SHARES. In particular, the trading procedures of Bitcoin (BTC) and Ethereum (ETH)-based spot ETFs, as well as the approval of Ethereum staking-containing ETFs, have also been delayed.

The main reason for the delays in SEC's crypto ETFs is generally cited as market manipulation and investor protection concerns. The Commission can resist applications that it does not find satisfactory, especially in terms of market stability, for a long time. This situation puts investors and companies in a waiting mode, increasing uncertainty in the market.