SEC Delays Decision on XRP and DOGE ETFs Until June 2025

The U.S. Securities and Exchange Commission (SEC) has decided to delay its decision on two crypto ETFs linked to Dogecoin (DOGE) and XRP. These proposals, from Bitwise and Franklin Templeton, were expected to bring meme coins and altcoins closer to traditional finance. Instead of approving or rejecting them, the SEC has postponed the decision until mid-June, saying it needs more time to review.

This delay isn’t surprising. It fits a larger pattern of regulators moving slowly as they try to figure out how to handle digital assets, which are becoming more popular but still exist in a legal gray area. For investors, it’s more of the same—another pause in crypto’s long journey toward acceptance on Wall Street.

ETF Decisions Delayed Until June

The SEC's recent filings show that it will now rule on Bitwise’s Dogecoin ETF by June 15 and on Franklin Templeton’s XRP ETF by June 17. These dates reflect an extension of the agency’s review window, standard procedure when the Commission wants more time to dig into a proposal.

According to U.S. securities law, once a proposed rule change hits the Federal Register, the SEC has 45 days to act. However, it can stretch that period to 90 days if deemed necessary, and that's precisely what it's done here. The filings didn’t include any bombshells—just a formal line about giving the agency "sufficient time" to evaluate the issues at hand.

What’s notable is that this is happening in parallel with a flood of other ETF filings. Exchanges like Nasdaq are also jumping in—just hours after the DOGE and XRP delay, Nasdaq filed to list a 21Shares Dogecoin ETF. There’s momentum here, even if the SEC isn't keeping pace.

Response from Crypto Community

Although the SEC remains hesitant, crypto market participants are pressing forward. According to Bloomberg Intelligence, more than 70 cryptocurrency ETF applications are now pending, ranging from established assets like Solana and Litecoin to more unusual entries such as meme coins like Penguins and the “2x Melania” token.

However, analysts caution that the road ahead may be lengthy. James Seyffart of Bloomberg suggests that many of these proposals may not reach their final deadlines until October 2025 or later, and even then, there is no assurance of approval.

ETF expert Eric Balchunas from Bloomberg noted that getting an ETF approved for an altcoin doesn’t guarantee broad investor interest. Just as having music on streaming platforms doesn’t automatically lead to hits, ETF approval doesn’t always translate to immediate investment. That said, the success of Bitcoin ETFs has laid the groundwork for greater acceptance of these funds, and there’s optimism that altcoins could follow suit in due time.

Interestingly, the price action around DOGE and XRP remained relatively calm after the delay. Both DOGE and XRP saw minimal drops, suggesting that investors were not expecting immediate approval and are instead taking a longer-term perspective.

Political Influence on SEC’s Crypto Decisions

The SEC's decision to delay its ruling on these two high-profile ETFs reflects a broader issue in the cryptocurrency market—how regulators are grappling with the rapid growth of digital assets. Cryptocurrencies, once considered niche investments, have now entered the mainstream, but regulatory bodies like the SEC are still working out the best approach to oversee these assets.

This is especially relevant given the push from lawmakers, exchanges, and crypto advocates for clearer guidelines. President Trump’s influence has been noted as part of this ongoing debate, as some believe he’s advocating for more leniency toward crypto assets.

However, as the SEC continues to delay decisions and extend deadlines, it becomes clear that the agency remains cautious, preferring to err on the side of regulation rather than rushing into approvals. In the long term, the SEC’s actions will play a crucial role in determining the trajectory of crypto investments, including whether altcoins like DOGE and XRP can achieve the same level of legitimacy as more established assets like Bitcoin.

Slow Progress on Crypto ETFs

The SEC's delay in deciding on the Dogecoin and XRP ETFs brings more uncertainty, but it also shows the ongoing caution in regulating digital assets. The crypto market is constantly evolving, and with more than 70 ETF applications still pending, it's clear that there’s a push for better guidance on how these assets will be integrated into traditional finance. As the SEC takes its time, the crypto community remains cautiously optimistic, aware that the path to broader acceptance may be slow but still achievable.