SEC Kicks XRP, DOGE ETF Decisions Down the Road—Again

Regulators hit snooze on crypto’s hottest ETFs—because why make decisions when you can schedule more meetings?

June at the earliest for verdicts on XRP and Dogecoin funds. Meanwhile, Wall Street’s old guard quietly pockets another quarter of fees from ’approved’ assets.

Funny how the SEC moves at blockchain speeds when it’s saying ’no,’ but molasses when retail investors might actually win.

According to the documents, the financial watchdog has now extended the review period by an additional 45 days, postponing its decision until June 17, 2025.

This is standard procedure, and even though it only added an extra 45 days, the SEC is allowed to extend the reviews by up to 240 days from the initial publication in the Federal Register. In essence, there could still be more pain on the way for impatient speculators.

The application was originally filed on March 13 and published in the Federal Register on March 19. If approved, the ETF will track the spot price of XRP, with assets custodied by Coinbase Custody.

Shares would trade on the Cboe BZX Exchange, and the fund’s net asset value will be determined with the CME CF XRP-Dollar Reference Rate.

According to Eleanor Terrett, who spoke to ETF analyst James Seyffart, the dates listed in the notice are all “intermediate.” In fact, Seyffart believes the $XRP spot ETF could be approved by mid-October with a final decision deadline set for October 18.

“It’s possible the SEC won’t take all that time to make its decision, but a lot will hinge on how actively they engage on the applications,” Terrett wrote on X.

The SEC postpones decisions on other ETF applications

The SEC delayed its decision on other ETF applications besides the Franklin Templeton XRP ETF. There are also other XRP ETF applications, including those from Grayscale, Canary Capital, Bitwise, WisdomTree, CoinShares, 21Shares, ProShares, and Volatility Shares, but none of them have been approved yet.

Aside from the XRP ETF applications, the agency has also delayed making a decision on Bitwise’s Doge ETF application until June 15.

The SEC’s actions have triggered mixed reactions on social media with a majority unsure whether to get mad or remain optimistic about the ETFs.

The agency is known for cautiously deliberating on crypto-related ETFs, as seen with the spot Bitcoin and Ethereum ETFs, which took years to approve. However, that was under the Gary Gensler administration. The SEC has come under new leadership with Paul Atkins, and many expect it to move more quickly and positively.

There are now over 70 ETF proposals for altcoins like Solana, Litecoin, Hedera, and Dogecoin waiting for the SEC’s review. Not all will be approved but some, like the XRP ETF, have been deemed inevitable by people in the know.

Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot