The SEC has delayed Coinshares’ final decision on proposed XRP and Litecoin ETFs and is pushing for reviews ahead of the May 26th deadline. This delay has led Crypto ETF experts and analysts to push back the expected approval dates for both products to quarterly 2025. Initially, we were hoping that the first XRP and LTC ETF would arrive in June.
Despite the delays, the SEC has officially recognized the new TRX staking ETF, making Crypto fans happy as they hope that the new ETF arrives this year. Canary Capital’s ETF is the first Exchange-Traded Fund to provide exposure to TRX with staking capabilities. Although not immediate approval, it is important as it shows that the SEC is willing to evaluate new types of digital asset ETFs, including those that incorporate staking for yield.
“As expected, more delays in Crypto ETFs have dropped today,” Bloomberg ETF analyst James Seyffart posted on X.
Last year, Bitcoin was one of the biggest surprises in the financial sector. Major civics surged to six-figure value in November, reaching an all-time high of $109,000. But as many have labelled this as the biggest launch of all time, it is often overlooked how important the existence of BlackRock’s Bitcoin ETF is. Now, all eyes are looking at assets that can follow Bitcoin and Ethereum this year. Specifically, many people are looking for tokens such as Ripple XRP or Litecoin LTC.
In addition to these XRP and Litecoin ETF delays, SEC has also announced similar delays for five different Solana ETF applications. The launch of XRP, LTC and SOL ETFs could cause the prices of these cryptocurrencies to skyrocket. Analysts will surge XRP to more than $2.50 when ETF is approved.
