Crypto News: Crypto ETFs Unlikely to Be Approved Until New SEC Chair Takes Office

Key Takeaways:The SEC has delayed decisions on multiple spot crypto ETF applications, including XRP, Solana (SOL), Dogecoin (DOGE), and Litecoin (LTC).Approval is unlikely until Paul Atkins—Trump’s nominee for SEC Chair—is confirmed by Congress.Bloomberg analysts estimate a 65% chance of approval for altcoin ETFs by year-end.The SEC historically takes up to 240 days to approve or reject ETF applications.Delays Expected Until New Leadership Is ConfirmedDespite growing anticipation for spot crypto ETFs beyond Bitcoin and Ethereum, the U.S. Securities and Exchange Commission (SEC) is expected to stall decisions until its new leadership is in place. President Donald Trump has nominated Paul Atkins—a former SEC commissioner and CEO of Patomak Global Partners—but his confirmation hearing has yet to be scheduled.Bloomberg ETF analyst James Seyffart believes the SEC will push back approvals for crypto ETFs until Atkins is officially sworn in. "It’s been our assumption that anything that can be pushed until Atkins is officially at the SEC, will be pushed back,” he stated.How Long Could It Take?The SEC took years before approving spot Bitcoin (BTC) and Ethereum (ETH) ETFs, even though both assets had regulated futures markets—a factor the SEC considers for ETF approvals. None of the current altcoin ETF applications meet this criterion, potentially delaying the process further.Historically, the SEC has used its full 240-day review period for ETF applications. Some pending applications are up for review in May and June, but final decisions will likely depend on Atkins' confirmation timeline.Will Altcoin ETFs Be Approved in 2025?Despite the delays, analysts still believe the odds favor approval before the year ends. Seyffart estimates a 65% or higher chance that some spot crypto ETFs, including XRP, SOL, DOGE, and LTC, will be approved by late 2025. However, the timeline remains uncertain, hinging on regulatory clarity and leadership changes at the SEC, according to CoinDesk.