Despite their differences, investors have been awaiting the launch of the XRP and Polkadot ETF (Exchange-Traded Fund), which has been delayed for months.
Despite their differences, investors have been eagerly awaiting the launch of the XRP and Polkadot ETF (Exchange-Traded Fund), which has been delayed for months. The first spot ETF launch was of Bitcoin (BTC), followed by Ethereum (ETH), and now the wait is for the next crypto ETF launch. Interestingly, despite the constant SEC delays, the investors’ optimism is high. Let’s discuss which one would get approved first.Solana ETF Delayed, XRP and Polkadot ETF Next in LineThe US Securities and Exchange Commission (SEC) has now delayed its decision on Grayscale’s spot Solana ETF until late 2025. Before this, they had also delayed and pushed back their decision on the Litecoin exchange-traded fund. Now, the next ones in line are the spot XRP and Polkadot ETF, which are potentially getting approved in June.Crypto spot ETFs are the most bullish factors in the market. Bitcoin and Ethereum have witnessed a significant rally with the performance of their launched spot exchange-traded fund, and the same is anticipated for other approvals. As a result, the demand for other launches is higher.XRP vs Polkadot ETF: Filing, Polymarket Odds & MoreAfter the delays on Solana and Litecoin, the next dates are for the spot XRP and Polkadot exchange-traded fund. According to the SEC’s court filing, they will make a decision on the Grayscale Polkadot ETF by June 11 and 21Shares one on June 24. In the same month, they will present the decision on Franklin Templeton’s spot XRP ETF on June 17. As both cryptocurrencies are among the top altcoins of the market, the hype is high. The Polymarket data show investors have 80% votes in favor of Ripple ETF approval by 2025 end and 41% odds by the end of July.
Although the odds are lower for the small duration, the long-term odds show confidence in this crypto. However, there’s no Polymarket market for the Polkadot ETF, which is showing less demand. Interestingly, there are a few XRP ETF already out in the market, including Brazil ETF & more, so the confidence is higher in this one. The SEC vs. Ripple battle is almost near its end, but the uncertainty still remains. On the other hand, the regulatory clarity is better on Polkadot, but the SEC filing mentioned reasons behind its delay, which reduced the odds. Experts reveal that the concerns of market manipulation, Polkadot’s smaller liquidity, and long-term stability doubts resulted in a delay. The same could impact the SEC’s decision in June.SEC Delays @Polkadot ETF Applications to June 2025The U.S. Securities and Exchange Commission (SEC) has postponed its rulings on Polkadot (DOT) ETF applications from Grayscale and 21Shares, extending the deadlines to June 11, 2025, for Grayscale’s trust conversion and June 24, 2025, for 21Shares' ETF application. This continues a series of delays by the SEC in its decisions on crypto ETFs.
Earlier, the SEC extended the decision date on Light Node's Bitcoin ETF to June 26, 2025, and the Light Harvest Litecoin ETF decision date to June 16, 2025. In March 2025, the SEC pushed back the decision on Grayscale's Ethereum ETF to October 2025.
The SEC has faced significant pressure to approve new crypto ETFs, particularly after the successful launch of the first Bitcoin futures ETF in 2021. Despite this, the SEC has yet to approve any spot crypto ETFs, despite receiving numerous applications over the past few years.
Recently, the SEC also delayed its verdict on Grayscale's application to convert its existing Grayscale Polkadot Trust to an ETF, a process that began in 2021 with the filing of an S-1 registration statement. The SEC had previously set an April 27, 2024, deadline for a decision but has now pushed it to June 11, 2025.
In May 2024, the SEC extended the decision date on 21Shares' application for a Polkadot ETF to January 2025. However, further delays followed, leading to the new June 24, 2025, deadline for a verdict on the 21Shares application.
Which Crypto ETF Would Get the SEC’s Approval First?Officially, there are no comments from the SEC on any of the ETFs’ filings. As a result, it is not certain which would be the next exchange-traded fund to get approval. However, considering the launch of the futures Ripple ETF, better clarity on the SEC vs Ripple, appointment of a new SEC Chair, and other factors
