SEC To Keep XRP, Solana and Dogecoin ETFs in Limbo Until Paul Atkins Is Confirmed Chair

Key Takeaways

• The SEC has delayed decisions on XRP, Solana, and Dogecoin spot ETF filings.
• Many believe approvals will come only after Trump’s nominee, Paul Atkins, is confirmed as SEC chair.
• Atkins is still awaiting his Senate confirmation, and there is no clear timeline for his appointment.

The U.S. Securities and Exchange Commission (SEC) has delayed its decision on multiple altcoin exchange-traded funds (ETFs), pushing back its ruling on proposed XRP, Solana (SOL), and Dogecoin (DOGE) products.

The delay, announced in a series of filings on Mar. 11, was widely expected, with many in the industry speculating that the SEC will not approve additional crypto ETFs until President Donald Trump’s nominee for SEC chair, Paul Atkins, officially takes office.

ETF issuers, who had been anticipating a ruling, will now have to wait until at least May—when the SEC will either approve, reject, or push back the decision yet again.

Altcoin ETFs Stuck in Limbo Until Atkins Steps In

Since Trump’s return to the White House, a wave of altcoin-based ETF applications has flooded the SEC.

However, approval hinges on multiple factors—chief among them being Atkins’ confirmation as SEC chair and clearer regulatory guidelines from the newly formed crypto task force.

Atkins’ confirmation process, however, is moving slowly.

The Senate has a backlog of nine other cabinet nominees ahead of him, leaving his timeline uncertain.

While some had expected him to take charge by March, insiders now suggest his confirmation might not happen until June—potentially pushing the SEC to delay ETF decisions again in May.

Market analysts note that the SEC’s latest delay follows a well-established pattern.

The agency took a similar approach with spot Bitcoin ETFs, delaying decisions multiple times before ultimately approving them earlier this year.

If history is any guide, the fate of altcoin ETFs could remain uncertain until the SEC has a new chair and a clearer stance on whether these tokens qualify as securities.

SEC Also Stalls Decisions on In-Kind Creation and Crypto Staking

The delays are not limited to altcoin ETFs.

The SEC has also postponed its ruling on in-kind creation and redemption for spot Bitcoin and Ethereum ETFs, a mechanism that could make these funds more tax-efficient and attractive to institutional investors.

Additionally, the agency has delayed its stance on staking for Ethereum ETFs, another issue that has gained significant traction.