Following Bitcoin and Ethereum, a number of altcoin ETFs are expected to be approved in the US, including the XRP and Solana ETFs.
However, the SEC has so far not issued a positive decision and has postponed its decisions. These postponements have caused disappointment in the market, with SEC member Caroline A. Crenshaw speaking out against the postponement of XRP and altcoin ETFs.
While many investors have expressed frustration at the SEC’s repeated delays of spot ETFs for altcoins like XRP, the SEC member stated that the delay shouldn’t be interpreted too much.
In a recent interview, Caroline Crenshaw explained that the delays in approving spot XRP ETFs were not due to outright rejection, but rather due to procedural reviews by the SEC that require careful analysis rather than quick decision-making.
Crenshaw said he acknowledged the growing dissatisfaction among investors, but said they had to.
Crenshaw said the SEC has systematically evaluated numerous altcoin ETF applications, including XRP, in detail, without issuing a definitive approval or rejection yet.
The SEC member emphasized that the fact that an ETF application has not yet been approved should not be interpreted as a definitive rejection and that the SEC has not yet made a final decision on whether to approve XRP and other applications.
Crenshaw added that while the ETF approval process may seem slow to investors, the SEC’s review process is designed to protect market integrity and investor interests.
Market analysts predict that spot ETF approval for XRP could happen before the October deadline.
While spot XRP ETFs are still under SEC scrutiny, the SEC has previously approved futures-based XRP products like the Teucrium 2x Long Daily XRP ETF, suggesting a higher likelihood of approval for XRP sports ETFs.
*This is not investment advice.
