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The US Securities and Exchange Commission (SEC) has decided to delay its decision on the spot XRP and Solana ETFs proposed by Franklin Templeton, a prominent asset management firm. This development raises more questions than answers, particularly for investors and traders eagerly awaiting the approval of these funds.
Notably, the regulatory body is seeking public comments on the proposed rule changes within the next four weeks. While this delay might seem like a setback for those expecting swift approvals, experts believe that it could potentially signal a positive outcome in the short term.
According to James Seyffart, a Bloomberg ETF analyst, this unexpected turn of events was not entirely surprising. He noted that the SEC has been consistently delaying decisions on altcoin spot ETF applications recently. However, the fact that they have actively engaged with fund managers seeking to offer spot Solana ETFs in the past two weeks may indicate that approvals are more imminent than previously thought.
While some might see this delay as a potential disruption to the highly anticipated 2025 altseason, there is an argument to be made that this move could ultimately accelerate its arrival. Historically, delays have led to increased demand and speculation around cryptocurrency assets, which can create a self-reinforcing cycle of growth.
It remains unclear when or if the SEC will ultimately approve these funds. Nonetheless, it is crucial for investors and traders to stay informed about market developments, as this delay could have significant implications for their portfolios.
The delay in decision-making has undoubtedly created uncertainty around the market’s future trajectory.
Source: coinpedia.org
