The US Securities and Exchange Commission (SEC) delayed various altcoin-based exchange-traded funds (ETFs) on March 11. According to Bloomberg ETF analyst James Seyffart, the approval odds for these ETFs this year are still relatively high.

Decisions on Grayscale’s filings for Dogecoin (DOGE), XRP, Litecoin (LTC), and Cardano (ADA) ETFs were delayed. The SEC also delayed decisions for XRP ETFs filed by Canary Capital, Bitwise, and 21shares. 

The regulator also postponed decisions on the Solana (SOL) ETFs filed by 21shares, Canary, and VanEck. Canary’s Litecoin filing was the last altcoin-related ETF delay.

Other crypto ETF delays include in-kind creation and redemptions for BlackRock’s IBIT, as well as Fidelity’s FBTC and FETH. 21shares also saw a delay in the proposal to include staking in its Ethereum (ETH) ETF.

Despite the delays, the SEC acknowledged Grayscale’s filing for a Hedera (HBAR) ETF and Bitwise’s DOGE-related filing.

Additionally, on March 11, Franklin Templeton filed an S-1 Form for an XRP ETF, joining a new altcoin exchange-traded product race.

High chances of approval

Seyffart assessed that the multiple delays were expected, as “this is standard procedure.” He added that Paul Atkins has not been confirmed as the new SEC chair, which is also a factor in the delays.

The analyst also highlighted that the final deadlines for an SEC decision on all ETFs are due in October and that the odds of approval are still relatively high.

In February, Seyffart and Bloomberg senior ETF analyst Eric Balchunas published their approval odds for Litecoin, Solana, XRP, and Dogecoin ETFs.

LTC leads the odds with a 90% probability of approval this year, with DOGE holding the second-largest percentage at 75%. SOL trails close behind with 70% chances, and XRP with a 65% chance of approval.

The analysts highlighted that these odds were less than 5% before President Donald Trump’s November election, making the new numbers relatively high.

Moreover, the odds for all ETFs listed by Balchunas and Seyffart could go up if regulatory conditions in the US improve even further.

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