SEC Pushes Back Decisions on Five High-Profile Cryptocurrency ETF Applications

The U.S. Securities and Exchange Commission (SEC) has pushed back its decisions on five high-profile cryptocurrency ETF applications, according to regulatory filings dated April 29.

These delays align with the SEC’s statutory review structure, which allows it to extend the review period from 45 to 90 days to evaluate proposed rule changes

XRP and Dogecoin ETF Deadlines Extended to Mid-June

The agency has rescheduled its decision on Bitwise’s Dogecoin ETF to June 15, while the next review for Franklin’s XRP ETF is set for June 17. Both are now in their second procedural window, 19b-4 process that governs ETFrulemaking time lines.

This process allows the SEC to defer ETF decisions across four statutory checkpoints—45, 90, 180, and 240 days—before reaching a final verdict or initiating further proceedings.

The extensions are meant to provide regulators with more time to assess the broader impact of these ETFs on market structure, investor protection, and risk transparency in greater detail.

Analysts Say More Delays Likely Ahead of Final Deadlines

Commenting on the news, Bloomberg Intelligence analysts James Seyffart and Eric Balchunas noted that the extensions are expected and part of standard procedure.

“We also had the SEC today delay decisions on Ethereum Staking and Doge ETFs. I am expecting more delays today or at least this week on some Solana and Hedera/HBAR ETF filings. This is expected IMO. Final deadlines for most of this stuff is in Oct 2025 or later.”

Seyffart pointed out that most of the final ETF deadlines fall in Q4 2025, which implies more interim delays are anticipated. Balchunas added that we shouldn’t expect to see final approvals or denials until new SEC Chair Paul Atkins completes his internal strategy reviews.

As previously reported, the approvals of new ETFs often depend on internal agency alignment and external consultations, which can naturally extend the timeline beyond the minimal statutory timeframes.

Full Q4 ETF Calendar for XRP, Solana, Hedera, Dogecoin, and Ethereum

According to Bloomberg Intelligence’s updated ETF calendar, the following deadlines are now in place:

As these milestones approach, market participants and issuers are likely to adjust their positioning accordingly ahead of Q4, when key approvals or denials could significantly shift momentum, especially in the realm of altcoin-based ETFs.

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