The US Securities and Exchange Commission (SEC) delayed various Altcoin-based listed funds (ETFs) on 11 March. According to Bloomberg ETF analyst James Seyffart, the approval opportunities for these ETFs are still relatively high this year.
Decisions about Grayscale archives for Dogecoin (Doge), XRP, Litecoin (LTC) and Cardano (ADA) ETFs were delayed. The SEC also delayed decisions for XRP ETFs submitted by Canary Capital, Bitwise and 21Shares.
The regulator also issued decisions about the Solana (SOL) ETFs submitted by 21Shares, Canary and Vaneck. Canary’s Litecoin application was the last Altcoin-related ETF delay.
Other crypto ETF delays include in kind creation and repayments for BlackRock’s IBIT, as well as FBTC and Fthelity from Fidelity. 21Shares also saw a delay in the proposal to include it in his Ethereum (ETH) ETF.
Despite the delays, the SEC recognized Grayscale’s application for a Hedera (HBBAn) ETF and the DOG-related request from BitWise.
In addition, Franklin Templeton submitted an S-1 form for an XRP ETF on 11 March, with a new Altcoin Exchange-treated product trace.
High approval opportunities
Seyffart assessed That the multiple delays were expected, such as “This is standard procedure.” He added that Paul Atkins was not confirmed as the new SEC chairman, who is also a factor in the delays.
The analyst has also emphasized that the final deadlines for a SEC decision on all ETFs are owed in October and that the chance of approval is still relatively high.
In February, Seyffart and Bloomberg Senior ETF analyst Eric Balchunas published their approval opportunities For Litecoin, Solana, XRP and Dogecoin ETFs.
LTC leads the chance of an approval chance of 90% this year, with Doge having the second largest percentage with 75%. Sol trails just behind with 70% chances and XRP with a chance of 65% of approval.
The analysts emphasized that these opportunities were less than 5% before President Donald Trump’s elections, making the new number relatively high.
In addition, the opportunities for all ETFs stated by Balchunas and Seyffart can rise even further if the legal circumstances in the US improve even further.