SEC Drags Feet on XRP ETF Decision—Dogecoin Left in Regulatory Limbo

The SEC’s approval treadmill grinds on—XRP and Dogecoin ETFs gather dust in bureaucratic purgatory. Wall Street’s favorite game: delay, deflect, and disappoint.

While Bitcoin and Ethereum ETFs bask in the spotlight, Ripple’s XRP and the meme-fueled Dogecoin languish in regulatory no-man’s-land. The SEC’s decision delay sparks fresh speculation: is this careful deliberation or just another stalling tactic?

Market watchers note the irony—the same agency that sued Ripple over XRP’s security status now holds its ETF fate. Meanwhile, Dogecoin’s rollercoaster ride continues, proving once again that in crypto, even jokes can become billion-dollar waiting games.

As traditional finance slowly co-opts crypto, one thing remains certain: the SEC moves at the speed of a blockchain confirmation—minus the decentralization.

TLDR

• The SEC has delayed its decision on the XRP ETF and Dogecoin ETF applications.
• 21Shares filed the XRP ETF proposal in February with plans to list it on the Cboe BZX Exchange.
• Grayscale Investments submitted its Dogecoin ETF filing after launching a DOGE Trust earlier this year.
• According to the SEC’s latest update, the new decision date for the XRP ETF is June 17.
• The SEC stated it needs more time to assess whether the proposals meet regulatory standards.

The U.S. Securities and Exchange Commission has postponed its decision on the XRP ETF and Dogecoin ETF applications. Grayscale Investments and 21Shares submitted the filings for both digital asset products. The XRP ETF faces a new decision date of June 17, with Dogecoin following a similar regulatory path.

XRP ETF Timeline Extended by SEC

The SEC extended the review period for the XRP ETF filed by 21Shares, shifting its decision to mid-June. This delay continues a trend of extended timelines for cryptocurrency ETFs, including recent ones for Solana and Ethereum. The XRP ETF application aims to list the product on the Cboe BZX Exchange.

Delays on spot crypto ETFs are expected. A bunch of XRP ETPs have dates in next few days.

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 absolute earliest. More likely to be in early 4Q.

— James Seyffart (@JSeyff) May 20, 2025

The XRP ETF was filed in February and acknowledged by the SEC shortly after, initiating the official evaluation period. Although the delay is not a rejection, it shows the SEC’s need for additional review time. The commission cited the requirement to ensure compliance with Section 6(b)(5) of the Exchange Act.

The XRP ETF is part of a growing list of proposed altcoin ETFs awaiting approval. The SEC typically uses the full review period for 19b-4 filings. Market experts have said approval before June 17 WOULD be considered early and uncommon.

Dogecoin ETF Review Also Postponed

Grayscale Investments received a similar notice from the SEC regarding its dogecoin ETF application. The product followed the launch of the DOGE Trust in January and entered the regulatory review process in March. Like the XRP ETF, the Dogecoin ETF must meet anti-fraud and investor protection standards.

The SEC stated that it needs more time to assess whether the proposal satisfies relevant legal conditions. As with the ETF, the Dogecoin product will undergo extended evaluation. A final decision will be made in the coming weeks.

The delay did not immediately affect Dogecoin’s market performance. Dogecoin was priced at $0.2264, with a 0.75% increase in 24 hours. Meanwhile, the ETF news coincided with a 1.66% rise in XRP to $2.355.

XRP ETF Faces Longer Review Timeline

The SEC recently delayed other applications, including the solana ETF from Bitwise and 21Shares. This consistent action shows a broader review strategy rather than targeting specific assets. The XRP ETF remains one of the high-profile proposals under this review cycle.

Analysts noted that the commission generally uses all the time allowed to assess new cryptocurrency ETF products. While Bitcoin and ethereum ETFs are already approved, altcoin ETFs like the ETF demand stricter examination.