SEC Postpones Decision on XRP and Dogecoin ETFs

The U.S. Securities and Exchange Commission has once again pressed pause on proposed exchange-traded funds tied to Dogecoin and XRP

The U.S. Securities and Exchange Commission has postponed its decision on proposed exchange-traded funds tied to Dogecoin and XRP, extending the period for the regulator to assess whether these products meet investor protection criteria.

The filings from Grayscale Investments and 21Shares, respectively, are now on hold until the third week of June, extending a string of ETF deferrals that also includes a pending Solana ETF application from 21Shares and Bitwise.

The proposed XRP fund, which was submitted in February, aims to give institutional players access to Ripple’s token via Cboe’s BZX Exchange. Meanwhile, Grayscale’s Dogecoin ETF request follows its earlier DOGE Trust product and is part of the firm’s broader push to expand spot crypto ETFs beyond Bitcoin and Ethereum.

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Despite the regulatory holdups, both Dogecoin and XRP have seen minor price upticks. XRP is trading at $0.233, showing a 1.66% increase in 24 hours, while DOGE is holding at $0.2264 with a 0.75% gain, according to CoinMarketCap.

Market watchers are looking at these developments as potential fuel for a broader altcoin rally later this year.

“These types of delays are to be expected, especially for altcoins,” said Bloomberg ETF analyst James Seyffart.

He added that while some approvals may arrive as early as June, the SEC often utilizes the full review period granted to it under its rules.

The crypto community is also keenly following the tenure of SEC Chair Paul Atkins, who is known for his progressive stance on digital assets. His leadership could be crucial in advancing altcoin ETFs towards regulatory approval.