SEC Slams Brakes on Grayscale’s XRP, Solana & Cardano ETF Plans – Crypto Markets Hold Their Breath
The SEC just threw a regulatory wrench into Grayscale’s ambitious crypto ETF conversion plans—and the market’s feeling the shockwaves.
Here’s what’s happening behind the scenes.
Another Delay in the Crypto ETF Gold Rush
Grayscale’s bid to convert its XRP, Solana, and Cardano trusts into ETFs just hit a bureaucratic wall. The SEC’s latest delay tactic shows regulators still aren’t ready to play nice with altcoins—despite Bitcoin and Ethereum’s recent regulatory wins.
Wall Street’s Waiting Game
Traders were betting big on these ETFs unlocking fresh institutional money. Now? Another classic case of ‘hurry up and wait’—because nothing moves fast in Washington except lobbyists’ expense accounts.
This isn’t just paperwork—it’s a power play. The SEC’s stalling could reshape which cryptocurrencies get mainstream legitimacy… and which get left in regulatory limbo.
The Bottom Line
Until the SEC makes up its mind (or gets replaced by someone who will), crypto’s institutional future remains stuck in committee. Meanwhile, Grayscale’s lawyers are probably billing by the hour.
