XRP ETFs, Like Dogecoin, Now Put on Waiting List by SEC

The U.S. Securities and Exchange Commission (SEC) has postponed decisions on the approval of ETFs for XRP and Dogecoin. However, experts continue to see good prospects for XRP ETFs and those of other altcoins.

The race over which cryptocurrencies will be listed on regulated exchanges in the US via ETFs continues:

The Securities and Exchange Commission (SEC) has postponed decisions on Dogecoin and XRP ETFs for the time being. Bloomberg expert James Seyffart is not surprised by X and expects similar steps from the SEC in the coming days regarding applications for Solana ETFs and Hedera (HBAR). Hopes that the new SEC chairman, Paul Atkins, would approve various crypto ETFs right at the beginning of his term have not been fulfilled.

But in general, Atkins signals a willingness to compromise and sees “significant advantages” associated with crypto assets. So far, ETFs for Bitcoin and Ethereum have been approved in the US. Seyffart and his colleague Eric Balchunas have published an update of their assessments on X. According to them, the prospects for XRP ETFs this year are 85 percent, recently boosted by the fact that trading in XRP futures will begin on the Chicago Futures Exchange in the second half of May.

Solana ETFs most likely to be approved by the SEC in 2025 according to Bloomberg

SOL has already completed this step, and Bloomberg therefore estimates the chances of Solana ETFs being approved in 2025 at 90 percent. Things are also looking good for Dogecoin ETFs, which are said to have an 80 percent chance of approval. Seyffart also points out, however, that the SEC has the right to extend deadlines for decision-making and would then likely not be forced to issue a final ruling until October.

Interest in Bitcoin ETFs has recently surged again, experiencing significant capital inflows over the past eight trading days. Since the Bitcoin halving in April 2024, miners have been mining only around 450 BTC per day. However, on good trading days, Bitcoin ETFs are forced to purchase several thousand BTC for coverage. Ultimately, this also benefits the Bitcoin price curve. Altcoins from XRP (Ripple) to Solana to Dogecoin, which are represented in the ETF race, are also hoping for positive influences from capital inflows and new investor groups.

Conclusion: XRP, Dogecoin and Solana must wait a little longer for ETFs

When Bitcoin became the first cryptocurrency to receive SEC approval for ETFs in January 2024, Bloomberg experts Seyffart and Balchunas were spot on with their predictions, while many crypto media outlets were overly optimistic.

This year, the two emphasized with regard to XRP ETFs and others such as Dogecoin and Solana: The SEC will take its time, but not necessarily exhaust all deadlines. The crypto markets also reacted calmly to the additional, but likely expected, waiting period: None of the altcoins affected by the recent SEC decisions showed any noticeable price fluctuations. For XRP, Dogecoin, Solana , and others, it’s no longer a question of if, but only of when, when it comes to ETFs.

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(Featured image by Tima Miroshnichenko via Pexels)

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