US SEC Delays Decision on Grayscale Investment’s Dogecoin ETF Application

The US Securities and Exchange Commission (SEC) has delayed its decision on Grayscale Investment’s Dogecoin ETF application.

The US Securities and Exchange Commission (SEC) has postponed its verdict on Grayscale Investment's Dogecoin ETF application. The application, filed in March 2025, is still under review, and no decision has been made yet.

Many altcoins, including DOGE, XRP, Solana, and others, are awaiting the SEC's decision on more than 70 ETF filings. The constant delay and postponement are affecting these underlying digital assets and the investors' sentiments. However, on the other hand, the performance of launched Bitcoin and Ethereum exchange-traded funds maintains demand.

What did the SEC say?

The SEC is taking additional time to evaluate these exchange-traded funds, resulting in delays in DOGE and XRP ETFs.

Grayscale filed the spot Dogecoin ETF in March 2025 after its Trust launch in January. However, even after months, the SEC has not commented on the filing and is under review.

Although delays are tiring for investors, it is an important step that ensures compliance with Section 6(b)(5) of the Exchange Act. For the same reasons, the Bitcoin ETF took time before launch, but the result turned fruitful as it witnessed billions in inflows and boosted the Bitcoin price.

Now the next date for the decision is June, where a positive response could result in the approval.

"The Commission is instituting proceedings to allow for additional analysis to determine if ETFs meet rules’ ‘designed to prevent fraudulent and manipulative acts and practices’ and ‘to protect investors,’" state SEC filings.

When will the SEC say yes to Dogecoin ETF?

Although the SEC has postponed their decision to June, this does not imply that they will approve it then. The SEC filings clearly note this and explain that the delay is for the additional analysis.

The Polymarket odds for the DOGE ETF approval before the end of July stand at just 15% and are down 7% in the last 24 hours. However, the odds in 2025 are at 63%, showcasing that investor trust is higher in later months of 2025.

Additionally, the Bloomberg analysts have shared similar predictions. In a recent X post, James Seyffart has claimed that there's no conspiracy behind these delays and it's just the SEC's standard process.

He revealed that the SEC takes time to respond to 19b-4 filings, and all these exchange-traded fund filings have due dates in October and have nothing to do with the SEC's friendliness.

"The SEC typically takes the full time to respond to a 19b-4 filing. Almost all of these filings have final due dates in October. Early decisions would be the action that's out of the norm. No matter how "Crypto-friendly" this SEC is. There's no conspiracy here."

Many others are acknowledging the same, considering the constant delays for decisions on Dogecoin ETF filings. Recently, the SEC postponed its decision on the Solana ETF proposal from various issuers.

Frequently Asked Questions (FAQs)

1. Why did the SEC delay the decision on the Grayscale Dogecoin ETF?

The US Securities and Exchange Commission (SEC) has postponed its verdict on Grayscale Investment's Dogecoin ETF application. The application, filed in March 2025, is still under review, and no decision has been made yet.

Many altcoins, including DOGE, XRP, Solana, and others, are awaiting the SEC's decision on more than 70 ETF filings. The constant delay and postponement are affecting these underlying digital assets and the investors' sentiments. However, on the other hand, the performance of launched Bitcoin and Ethereum exchange-traded funds maintains demand.

Many more have been filed in the past few months, and the factor that decides these ETFs in the coming months will be the crypto market and its stability.

The SEC will decide whether to approve or deny the applications for ETFs based on various Section 3 and 10 of the Securities Act of 1933, Section 3, 6, and 19 of the Exchange Act, and the rules and regulations issued under these acts.

The applications filed by issuers are Grantor Trust ETF Series 2 and Series 3, and the applicants for the Bitcoin ETF are Spark Minerals, LLC and Kalmia Partners.

The applications for the Ethereum ETF are from issuers SmartCone and StillRiver. Meanwhile, issuers such as Cathay Bank, RSR, and Shapeshift have applied for the XRP ETF.

The Solana ETF applications have been filed by issuers such as Benessere, Eagle Global, and Factorial.

The SEC is expected to make its decision on the Bitcoin and Ethereum ETF applications by June, while the altcoin ETFs, including Dogecoin, will be decided by October.

However, the regulator could take more time to reach a decision and announce a further postponement.