SEC Delays CoinShares Litecoin and XRP ETFs

The US Securities and Exchange Commission (SEC) has continued its wave of delays on the pending crypto ETFs. This time, the Commission has postponed its decision

The US Securities and Exchange Commission (SEC) has continued its wave of delays on the pending crypto ETFs. This time, the Commission has postponed its decision on CoinShares Litcoin and XRP ETFs, while calling for comments and rebuttals on these filings.

SEC Delays CoinShares Litecoin and XRP ETFs

In an SEC release, the Commission revealed its decision to defer the approval or rejection of CoinShares XRP ETF ahead of the second deadline, which comes up on May 26. Similarly, the agency postponed its pending decision on the asset manager’s application to list and trade shares of its Litecoin ETF on the Nasdaq exchange.

The second deadline for the LTC ETF was also on May 26. Instead of making a judgment on these funds, the SEC has called for more comments and rebuttals on these crypto ETFs. The next deadline for the Commission on these funds is August 24.

It is worth mentioning that the SEC also delayed its decision on Grayscale and 21Shares’ XRP ETFs earlier this week. In a separate release, the agency also postponed Bitwise’s XRP ETF. Meanwhile, it is also expected to make a similar move for Canary Capital and WisdomTree’s XRP ETFs, with the second deadlines coming up on May 26 and 27, respectively.

The Commission has shown that it is in no hurry to approve these crypto ETFs. As CoinGape reported, it has postponed its decision on other crypto ETFs, including Bitwise and 21Shares Solana ETFs.

According to Bloomberg analyst James Seyffart, Paul Atkins and his team will eventually grant approval for these funds, including the XRP ETFs, but he expects them to wait until the final deadline before doing so.

In line with this, Seyffart stated that an approval will likely come in the early part of the fourth quarter of this year. Meanwhile, he predicts an approval could come as early as late June or early July.