Yigit Taha OZTURK 
The regulatory fog surrounding the crypto ETF space thickens, but not unexpectedly. As the community holds its breath for approval breakthroughs, the U.S. Securities and Exchange Commission (SEC) continues to take its time — a move that many market analysts already saw coming. The delays, though routine, may shape the roadmaps of upcoming altcoin-based ETFs.
Delay Confirmed For Ethereum Staking And XRP ETFs
In an announcement on May 20, the SEC officially postponed its decision regarding Bitwise’s proposal to add staking to its Ethereum (ETH) ETF and Grayscale’s application for an XRP ETF. Both delays extend the review period by an additional 45 days, allowing the agency more time to assess the proposals under regulatory frameworks.
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According to the filing, the SEC requires further analysis and is soliciting public comments on Grayscale’s XRP and Bitwise’s Solana (SOL) tracking funds. Bloomberg ETF analyst James Seyffart commented on X (formerly Twitter) that these delays are “absolutely expected,” citing that the SEC usually exhausts the full review window for such applications.
Litecoin ETF Gathers Momentum Among Analysts
While most altcoin-based ETF applications are likely to see similar delays, Seyffart highlighted Litecoin (LTC) as having “a higher likelihood vs others of getting approved first.” With multiple XRP ETP filings approaching decision dates in the coming days, analysts expect any early approvals to emerge in late June or early Q3 — though early Q4 seems more probable.
Several major ETF filings, including those linked to Polkadot (DOT), are due in June, such as Grayscale’s proposal by June 11 and 21Shares’ filing by June 24.
The recent wave of ETF applications comes amid changing tides at the SEC, following the resignation of former chair Gary Gensler. His tenure, marked by over 100 enforcement actions against crypto projects, has now given way to a perceived more crypto-friendly atmosphere, with multiple legal cases against firms like Gemini and Cumberland DRW being dropped.
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