In a detailed post on social media platform X, Fagel explained that internal SEC procedures, rather than any ongoing negotiations, are behind the delay. According to him, drafting action memos, reviewing them through internal divisions, and scheduling commissioner votes are standard steps that take time. “That’s not the cause for delay,” he wrote, dismissing speculations of secret talks between Ripple and the SEC. 

SEC’s Bureaucratic Process Slows Ripple Lawsuit 

Fagel made it clear that the delay stems from bureaucratic obligations. The process begins with preparing an action memo, which then must be reviewed by relevant departments. Only after this review can it be placed on the calendar for a commissioner vote. This sequence, he noted, may take 1 to 2 months. 

Following the closed-door meeting on July 3, the community expected significant progress. However, no decision came out of the July 17 session either. Fagel emphasized that these meetings are routine weekly events with no direct link to the Ripple case. 

He also debunked rumors blaming Judge Torres or the SEC for intentionally stalling the process. “Nobody is holding up the case,” he said. Furthermore, he clarified that Ripple’s $125 million fine was paid in cash, not in XRP, and this does not signal the end of the case. The final resolution still depends on the SEC’s appeal status. 

Hope for a Quick Settlement Might Be Premature 

Despite Ripple dropping its appeal, which sparked hope for a swift resolution, Fagel remains skeptical. He warned the community against believing anyone claiming to know the exact timing, reiterating that no one truly knows when a settlement vote will be scheduled. 

In summary, the delay in the Ripple vs SEC case is not due to reluctance or negotiation tactics but rather the standard operational timeline within the SEC. The XRP community continues to wait for clarity, but expectations of a quick conclusion may be overly optimistic. 

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The post Why Is the Ripple vs SEC Settlement Still Delayed? appeared first on Coin Engineer.

The SEC’s review process is not limited to market protection and compliance; it also includes an examination of Solana’s staking models, investor rights, and fraud risks. Franklin Templeton is required to resubmit their application addressing these issues. According to analysts, regulation of the staking mechanism could yield positive outcomes. 

XRP ETF: Spot ETF Excitement in Canada 

The delay in the XRP ETF application is influenced by the ongoing legal battle between Ripple and the SEC. A court ruling expected around August 15, 2025 (US time) will directly impact the ETF process. According to the market platform Polymarket, the approval probability for the XRP ETF is about 88%. If no issues arise on-chain, XRP ETF approval in the US could happen by the end of 2025. 

The legal dispute began in December 2020 when the SEC sued Ripple, alleging XRP was sold as an unregistered security. Ripple argues XRP is a digital asset, not a security. In a landmark interim ruling in July 2023, the court decided that XRP sold to individual investors on exchanges cannot be considered a security. This decision was a turning point favoring Ripple and led to a short-term price surge. However, the court sided with the SEC on institutional sales. The case is ongoing, with a final verdict expected on August 15, 2025. 

Meanwhile, developments in Canada have taken a different pace. Purpose Investments received approval from the Ontario Securities Commission on June 16, 2025. The first spot XRP ETF will begin trading on the Toronto Stock Exchange on June 18. Following this news, XRP price increased by about 7%. 

Solana ETF: Preparing for the “Altcoin Summer” with 90% Approval Expectation 

Bloomberg ETF analysts Eric Balchunas and James Seyffart estimate a 90% chance the Solana ETF will be approved before the end of 2025. This high likelihood is supported by the SEC’s request for staking-related information and the presence of Solana futures traded on CME. 

Analysts also point out that the “Altcoin ETF summer” is approaching. Following Solana, ETFs for other altcoins, especially Ethereum, may also reach approval stages. 

Summary 

• The SEC extended Franklin Templeton’s Solana and XRP ETF applications until the end of fall 2025. 
• The XRP ETF application progresses alongside the Ripple-SEC lawsuit; Polymarket estimates an 88% approval chance. 
• Canada will start trading the spot XRP ETF on June 18, causing XRP’s price to rise by 7%. 
• Solana ETF approval prospects are very strong, with analysts predicting a 90% chance. 

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The post SEC Again Delays Crypto ETF Decision! Here Are the Details  appeared first on Coin Engineer.

The U.S. Securities and Exchange Commission (SEC) has postponed decisions on Bitwise Dogecoin ETF, Grayscale Hedera Trust, and VanEck Avalanche ETF applications. These delays are occurring despite the agency’s new chairman, Paul Atkins, promising a more crypto-friendly approach. 

The SEC explained the postponement by stating, “The commencement of proceedings does not indicate that the Commission has reached any conclusions on the matters at hand.” Additionally, the agency encourages stakeholders to comment on the proposed rule changes. This, combined with requests for Solana ETF issuers to update their S-1 filings, indicates an increasingly complex approval process. Firms like VanEck and 21Shares are particularly concerned about the SEC not applying the “first-filer advantage.” The SEC emphasized that “the Commission has not reached any conclusions” and is “awaiting public comments from relevant parties.” 

Market Reactions and Future Expectations 

The SEC’s delay caused significant value drops in altcoins like Dogecoin (DOGE), Hedera (HBAR), and Avalanche (AVAX). AVAX fell about 12.5%, HBAR 11.5%, and DOGE 10%. These developments have created short-term uncertainty among crypto investors. 

The review process for the Dogecoin ETF began on June 11, 2025. The Hedera ETF process officially started on June 12. The final decision on the Avalanche ETF is expected to be postponed until mid-July, specifically July 15, 2025. 

However, Bloomberg analyst Eric Balchunas stated that the likelihood of approval for assets like Solana is increasing by the end of 2025. On the other hand, the decision process for Dogecoin, Hedera, and Avalanche will proceed more cautiously. ETF issuers like VanEck and 21Shares are worried because the SEC is not applying the “first-filer priority” principle. They argue this hinders market competition and innovation. They also request new regulations from the Commission to make registration disclosures fairer and more transparent. 

The SEC thoroughly examines the potential for market manipulation, liquidity risks, and the reliability of custody solutions for each ETF application. The delays in altcoin ETFs following Bitcoin ETF approvals indicate that each crypto asset’s unique risk profile is evaluated separately. 

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The post SEC Postpones Altcoin ETF Decisions: Sharp Market Volatility  appeared first on Coin Engineer.