The U.S. Securities and Exchange Commission has delayed deciding whether to allow the trading of altcoin spot ETFs

The U.S. Securities and Exchange Commission has delayed deciding whether to allow the trading of altcoin spot ETFs, which give investors exposure to Dogecoin (DOGE) and Ripple-affiliated XRP.

The U.S. Securities and Exchange Commission has pushed back again its decision on whether to allow the trading of altcoin spot ETFs, which give investors exposure to Dogecoin (DOGE) and Ripple-affiliated XRP.

The SEC said in Tuesday filings that it had extended its review period for the 21Shares Core XRP Trust, the Grayscale XRP Trust, and the Grayscale Dogecoin Trust.

The Commission suspended the original May 21-22 decision deadlines to further examine whether the proposals satisfy Exchange Act Section 6(b)(5) requirements for preventing fraud and protecting investors.

Cboe and NYSE, where the 21Shares and Grayscale funds would be listed, respectively, submitted their requests for rule changes earlier this year. The 21Shares Core XRP Trust plans to track the CME CF XRP-Dollar Reference Rate, with Coinbase Custody providing storage for the assets. Grayscale’s Dogecoin Trust would track CoinDesk’s Dogecoin Price Index, while its XRP Trust would follow CoinDesk’s XRP Price Index.

Dogecoin is the world’s oldest and largest memecoin, with a market capitalization of around $33.7 billion as of May 21, according to data from CoinGecko. XRP is the native token of the XRP Ledger blockchain network. It has a market capitalization of approximately $138 billion, CoinGecko data shows.

“The institution of these proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved. Rather, the Commission seeks and encourages interested persons to provide comments on the proposed rule change,” the SEC wrote.

Delays Are Expected

The SEC has recently postponed decisions on a bevy of crypto ETF proposals. The Commission is currently considering dozens of proposals, despite the fact that the Commission adopted a friendlier approach to digital assets under the Trump administration.

Since Trump returned to the White House in January, the SEC has dismissed several enforcement cases against crypto firms, and the commission’s crypto task force has met with reps of several companies in recent months as part of efforts to change digital asset regulation.

According to Bloomberg Intelligence ETF analyst James Seyffart, delays by the SEC on spot crypto ETFs are to be expected.

“If we’re gonna see early approvals from the SEC on any of these assets – I wouldn’t expect to see them until late June or early July at the absolute earliest. More likely to be in early Q4,” Seyffart wrote in a May 20 post on X.

If the SEC had time to respond in full, then it usually does, he added.

“Almost all of these filings have final due dates in October. Early decisions would the action that’s out of the norm. No matter how ‘Crypto-friendly’ this SEC is. There’s no conspiracy here. lol,” Seyffart opined.