SEC Delays Decisions on XRP and DOGE ETFs Amidst Market Stability
The U.S. Securities and Exchange Commission (SEC) has announced delays in its decision-making regarding the approval of spot exchange-traded funds (ETFs) for XRP (XRP) and Dogecoin (DOGE). This decision, made late Tuesday, aligns with the expectations of market analysts who have been closely monitoring the evolving cryptocurrency landscape.
Key Dates for ETF Decisions
The SEC has set new deadlines for the proposed ETFs, designating June 15 for the Bitwise DOGE ETF and June 17 for the Franklin XRP Fund. According to regulatory guidelines, the Commission has a statutory period of 45 days from the announcement of a proposed rule change to either approve, reject, or initiate a process that could lead to a rejection. However, this period can be extended up to 90 days if the Commission requires additional time to review the proposed changes.
In its filings, the SEC stated, "The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein."
Market Predictions and Analyst Insights
Bloomberg Intelligence analyst James Seyffart highlighted that such delays were anticipated, as many ETF filings tend to have final deadlines pushed to October 2025 or later. Seyffart also noted the likelihood of delays affecting additional ETF proposals, including those related to Ethereum staking and various Solana and Hedera/HBAR ETFs. He commented on social media platform X, “Final deadlines for most of this stuff is in October 2025 or later,” indicating that further delays might be expected in the coming days or weeks.
Current Market Conditions
As the news of the SEC’s decision unfolds, cryptocurrencies including XRP and DOGE have experienced minimal changes in their respective valuations. As of the latest updates, XRP is trading at approximately $2.2266, reflecting a minor increase of 0.95%. Meanwhile, DOGE has shown a more significant uptick of 5.27%, trading at $0.1816. Bitcoin (BTC) and Ethereum (ETH), two of the largest cryptocurrencies by market capitalization, are also showing stable performance, with Bitcoin valued at around $96,654.14, up 2.39%, and Ethereum at $1,846.96, up 3.09%.
Conclusion
The SEC’s decision to delay the approval of spot XRP and DOGE ETFs underscores the regulatory body’s cautious approach to cryptocurrency investments. With deadlines set for mid-June and possibly more delays on the horizon, market observers and investors will be keenly watching how this landscape evolves, particularly as the SEC navigates the complexities of cryptocurrency regulations.
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This article is intended for informational purposes only and should not be considered as financial advice. Please conduct your own research or consult a financial advisor before making investment decisions.
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