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The SEC has postponed the 21Shares XRP ETF application, but the market remains optimistic.
Despite the market's optimistic attitude towards regulatory developments, the SEC has once again delayed the approval process for cryptocurrency ETFs, dousing the hot market expectations with cold water. Following yesterday's postponement of five Solana ETFs, today 21Shares' XRP ETF and Grayscale's Dogecoin product also faced delays, with the approval timeline pushed back by at least three weeks.
Moreover, the SEC has delayed the applications for at least three other altcoin ETFs, primarily due to the slow internal approval processes within the government. This marks the third time this month that the SEC has postponed related approvals, reflecting the regulatory body's cautious attitude towards altcoin ETFs.
However, as expectations for the market XRP ETF approval rise, the community becomes increasingly impatient, as evidenced by the recent widespread dissemination of false rumors regarding the approval.
Despite the rapid development of the ETF market, the SEC's attitude towards cryptocurrencies is somewhat cautious. However, well-known analyst James Seyffart expects that although the spot cryptocurrency ETFs face delays, he still believes that the listing date for the XRP ETF will be announced soon.
He also expects that the SEC will approve as early as the end of June or early July, and at the latest, it will be approved in the fourth quarter of this year. He stated that the SEC will take time to conduct a thorough review of the ETF, especially for transformative decisions like approving the XRP ETF, where a lengthy internal approval process is normal and predictable.
However, market opinions suggest that despite the setbacks faced by the XRP ETF, the likelihood of approval remains high. Previously, most analysts believed that Litecoin with commodity attributes (LTC) would be the first altcoin ETF approved after Ethereum, but the SEC's earlier decision to delay has shattered this expectation.
Overall, although the SEC has released some cautious yet optimistic signals, it seems that the XRP ETF and other altcoin ETF applications should be prepared for a long wait. After all, the pace of government agencies is completely different from the rapidly evolving cryptocurrency market, and their decision-making processes will not be rushed by market performance.
Finally, do you think the SEC will ultimately approve these altcoin ETFs? Which cryptocurrency do you think will be the next to pass as a cryptocurrency ETF? Feel free to share your thoughts in the comments!
#SEC推迟ETF申请 # cryptocurrency ETF #XRPETF