Regulation
Bloomberg Analyst Shares Timeline On SOL, XRP, LTC, HBAR ETFs’ Approval

Bloomberg Analyst James Seyffart has outlined potential timelines for the approval of Solana (SOL), XRP, Litecoin (LTC), and Hedera (HBAR) exchange-traded funds (ETFs). As regulatory discussions gain traction in the United States, Seyffart predicts that decisions on these altcoin ETFs may extend into late 2025, depending on various factors.
Bloomberg Analyst Shares Timeline On Altcoin ETFs’ Approval
According to Bloomberg Analyst James Seyffart, the current environment is still a bit murky when it comes to altcoin ETFs because of previous decisions made by the SEC. The approval of Bitcoin and Ethereum ETFs was mainly due to their connection with the CME regulated futures markets. However, many of the altcoins, including SOL and XRP, do not have regulated futures markets by their side and this could slower down the process of ETF consideration.
“Without a regulated market of significant size, the SEC has historically denied altcoin ETF applications,” said Seyffart. He noted that new SEC leadership in 2025 could alter these guidelines, but timeframes for obtaining approval are still unclear.
Seyffart also noted that even though firms like WisdomTree and 21Shares have recently applied for XRP ETFs, the current regulations do not permit their launch. Some of the issues that will need to be sorted out include the issue of market manipulation, custody and compliance issues before such products can be allowed to go through.
XRP ETF Applications and Staking in ETFs
Recent XRP ETF filings, including one by WisdomTree under the name “WisdomTree XRP Fund,” are seen as a step forward for altcoin ETFs. The registration for this fund was submitted in Delaware, and the company is expected to file the formal S-1 registration with the US SEC soon.
Bloomberg Analyst James Seyffart has emphasized that staking for altcoins like Ethereum and potentially others, such as SOL and XRP, could become an essential component of future ETFs. However, he noted that current regulations do not permit staking within ETF structures.
“If a more crypto-friendly US SEC administration takes charge, we may see staking allowed in 2025,” he said, suggesting that allowing staking could increase demand for such products.
Filing Timelines and US SEC Approval Process
Bloomberg Analyst James Seyffart has outlined the difference between the two key filing processes for ETFs: the 19b-4 rule filings with the SEC’s Division of Trading Markets, which starts a formal review period with set deadlines, and S-1 prospectuses, which lack fixed timelines.
He noted that while Bitcoin and Ethereum ETFs progressed through the 19b-4 process, most altcoin ETFs have yet to do so. This means their approval is not yet on a regulatory clock.
“Even if altcoin ETF filings begin the 19b-4 process today, decisions could take until late 2025,” Seyffart stated.
The analyst added that the upcoming leadership changes at the SEC could also affect the speed of approvals. A new US SEC chair under a pro-crypto administration may accelerate timelines, but the extent of such changes remains uncertain.
The Role of Index and Basket ETFs
Bloomberg analyst James Seyffart also commented on the possibility of multi-asset index ETFs, like the ones investing in BTC, ETH, and other cryptocurrencies including SOL and XRP. Some products like Grayscale’s GDLC and Bitwise’s Crypto 10 Index which have applied for ETF conversion may not be as much affected by the regulatory issues since they are heavily exposed to Bitcoin and Ethereum.
He explained that regulatory concerns regarding altcoins in these index ETFs could be mitigated if the majority of the fund’s allocation remains in Bitcoin and Ethereum. However, SEC approval for these products will likely depend on whether the agency considers the smaller altcoin holdings compliant with existing rules.
Seyffart was hopeful though not very confident about the approval of altcoin ETFs, noting the fact that it will all be determined by the new SEC administration. In his view, the first decisions regarding ETFs for XRP, SOL, LTC, and HBAR may be made in 2025, but the frequency of such decisions will depend on changes in the leadership and general shifts in the regulatory environment.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Regulation
Kentucky Governor Signs Off On ‘Bitcoin Rights’ Bill, Strengthening Crypto Protections


In what is being dubbed a major development in the crypto regulation space, the Governor of the US state of Kentucky, Andy Beshear, has signed the ‘Bitcoin Rights’ bill into law. The law promises to safeguard protections for Bitcoin (BTC) users.
Bitcoin Rights Bill Comes Into Effect
Crypto regulations continue to evolve under pro-crypto US President Donald Trump’s administration. In the latest development, Kentucky has become the newest state to enshrine protections for digital asset users.
In an X post published on March 24, crypto advocacy group Satoshi Action Fund announced that Governor Beshear had signed the much-anticipated Bitcoin Rights bill into law. The post stated:
The right to self-custody, run a node, and use of digital assets is now protected for millions of Americans without fear of discrimination.
The bill was first introduced to the Kentucky House by Rep. Adam Bowling on February 19. According to the bill’s description, it seeks to safeguard users’ rights to use digital assets and self-custody wallets. Additionally, it aims to prohibit local zoning changes that discriminate against crypto mining operations.
The legislation outlines guidelines for running a digital asset node and excludes digital asset mining from money transmitter license requirements. It also clarifies that crypto mining or staking is not considered an offer or sale of securities.
On February 28, the bill passed Kentucky’s House of Representatives with a unanimous vote of all 91 representatives in favor. It later passed the Kentucky Senate on March 13, receiving backing from all 37 senators.
Kentucky’s proactive stance toward cryptocurrencies isn’t new. Earlier this year, the state became the 16th US state to introduce legislation seeking to create a Bitcoin strategic reserve.
Meanwhile, neighboring state Arizona is also joining the crypto movement. A recent X post by Bitcoin Laws revealed that Arizona’s House Rules Committee has passed two Bitcoin reserve bills — SB1373 and SB1025. These bills will now head to a full floor vote.
Renewed Optimism Under Trump Administration
Following Trump’s victory in the November presidential election, cryptocurrency regulations in the US are evolving rapidly, with many states introducing legislation aimed at strengthening their digital asset ecosystems and attracting crypto businesses.
Positive changes in crypto regulations are encouraging industry businesses to expand. For instance, leading crypto trading platform Coinbase recently announced plans to hire 1,000 employees in the US.
The Trump administration has also witnessed several lawsuits being dropped against major crypto entities, including Kraken, Coinbase, Gemini, and others. At press time, Bitcoin trades at $87,399, down 0.2% in the past 24 hours.

Featured Image from Unsplash.com, chart from TradingView.com

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Regulation
US SEC Drops Charges Against Hawk Tuah Girl Hailey Welch

Hawk Tuah girl Hailey Welch, known for her association with the controversial $HAWK token, has been cleared of any wrongdoing after a lengthy investigation by the U.S. Securities and Exchange Commission (SEC). The SEC has decided not to press charges against Welch in connection with the rapid rise and subsequent collapse of the meme-based cryptocurrency.
US SEC Investigation Into Hawk Tuah Girl Concludes Without Charges
The SEC had launched an investigation into the $HAWK token after its dramatic price drop. The token, which was linked to Welch’s viral persona, initially saw a market cap surge to $490 million before crashing by over 90%. Investors who were impacted by the crash filed a lawsuit against those behind the project, alleging that the coin had been promoted and sold without proper registration.
Hawk Tuah girl Hailey Welch, who cooperated fully with the investigation, expressed relief after the SEC’s decision. “For the past few months, I’ve been cooperating with all the authorities and attorneys, and finally, that work is complete,” Welch told TMZ.
Her attorney, James Sallah, confirmed that the SEC had closed the case without any findings against her, adding that there would be no monetary sanctions or restrictions on Welch’s future involvement in cryptocurrency or securities.
This Is A Developing News, Please Check Back For More
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Regulation
Sonic Labs To Abandon Plans For Algorithmic USD Stablecoin, Here’s Why

Barely a week after hinting at launching an algorithmic USD stablecoin, Sonic Labs is shuttering its plans. Sonic Labs co-founder Andre Cronje revealed that incoming stablecoin regulation in the US contributes to the change of stance.
Sonic Labs Makes U-Turn Over Algorithmic USD Stablecoin
In mid-March, Sonic Labs disclosed plans for a yield-generating algorithmic stablecoin for its blockchain. However, new developments in the US regulatory landscape are forcing the company to ditch its algorithmic stablecoin ambitions.
Sonic Labs co-founder Andre Cronje confirmed the change in direction via an X post following the release of the full draft of the STABLE Act by Congress for clearer oversight. According to the text, lawmakers are pushing for a two-year moratorium on algorithmic stablecoin, souring Sonic Labs plans.
Unlike mainstream stablecoins backed by fiat or other commodities, algorithmic stablecoins rely on smart contracts to maintain their peg. The 2022 implosion of Terra’s ecosystem following the de-pegging of its TerraUSD (UST) algorithmic stablecoin stunned regulators.
“We will no longer be releasing a USD-based algorithmic stablecoin,” said Cronje.
In a light-hearted note, community members teased potential strategies for Sonic Labs to sidestep incoming stablecoin regulation. Apart from the loophole of launching the algorithmic stablecoin before the regulation goes live, Cronje teased an algorithmic dirham that will be denominated in USD.
Industry Players Are Bracing For New Stablecoin Regulations
Stablecoin issuers are steeling themselves for incoming stablecoin regulations in the US. While the GENIUS Act and STABLE Act continue to inch forward, there are common denominators in both bills.
For starters, there is the requirement for equivalent reserves at a 1:1 ratio with both bills steering clear of algorithmic stablecoins. The White House is favoring the GENIUS Act over the STABLE Act as lobbyists rally to stifle the possibility of a Conference Committee.
Authorities are targeting stablecoin regulation to reach Trump in two months as issuers jostle for position. Tether, Circle, and Ripple are staking their claims to lead the US government’s ambitions to rely on stablecoins to maintain the dollar’s dominance.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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