Breaking: SEC Delays Decision On CoinShares Spot XRP and Litecoin ETF

The US Securities and Exchange Commission (SEC) has continued its wave of delays on the pending crypto ETFs. This time, the Commission has postponed its decision on CoinShares Litcoin and XRP ETFs, while calling for comments and rebuttals on these filings.

SEC Delays CoinShares Litecoin and XRP ETFs

In an SEC release, the Commission revealed its decision to delay the approval or rejection of CoinShares XRP ETF ahead of the second deadline, which comes up on May 26. Similarly, the agency delayed its decision on the asset manager’s filing to list and trade shares of its Litecoin ETF on the Nasdaq exchange.

The second deadline for the LTC ETF was also on May 26. Instead of approving or denying these funds, the SEC has called for more comments and rebuttals on these crypto ETFs. The next deadline for the Commission on these funds is August 24.

It is worth mentioning that the SEC also delayed its decision on Grayscale and 21Shares’ XRP ETFs earlier this week. In a separate release, the agency also delayed Bitwise’s XRP ETF. Meanwhile, it is also expected to make a similar move for Canary Capital and WisdomTree’s XRP ETFs, with the second deadlines coming up on May 26 and 27, respectively.

The Commission has shown that it is in no hurry to approve these crypto ETFs. As CoinGape reported, it has delayed its decision on other crypto ETFs, including Bitwise and 21Shares Solana ETFs.

Bloomberg analyst James Seyffart predicts that Paul Atkins and his team will eventually approve these funds, including the XRP ETFs, but he expects them to wait until the final deadline before doing so.

In line with this, Seyffart stated that an approval will likely come in the early part of the fourth quarter of this year. Meanwhile, he predicts an approval could come in late June or early July at the earliest.

Odds Of An Approval For Both ETFs

Polymarket data shows that the XRP ETFs have a higher chance of approval this year than the Litecoin ETFs. According to data from the predictions market, there is a 79% chance the SEC will approve the LTC ETFs before year-end.

On the other hand, there is an 83% chance that the Commission will approve the XRP ETFs this year. However, Bloomberg analysts James Seyffart and Eric Balchunas believe that the Litecoin ETFs have a better shot at approval.

According to these experts, there is a 90% chance that the SEC will approve the LTC ETFs, while there is an 85% chance that the agency will approve the Ripple ETFs.

In a recent X post, Seyyfart reaffirmed this prediction, stating that he thinks Litecoin is more likely to get approved first than other crypto ETFs. Balchunas also recently commented on the Bitcoin ETFs, predicting that BlackRock’s IBIT will surpass Satoshi Nakamoto’s BTC holdings by the end of next summer.