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SEC Delays Dogecoin and XRP ETF Decisions
The delays are expected as most ETF filings have final deadlines in October or beyond, one analyst pointed out.
Updated Apr 30, 2025, 4:51 p.m. Published Apr 30, 2025, 5:25 a.m.
What to know:
- The SEC has delayed decisions on spot XRP and DOGE ETFs, with new deadlines set for June 15 and June 17, respectively.
- The Commission can extend the decision period from 45 to 90 days if more time is needed to consider the proposed rule changes.
- Analysts, including James Seyffart, anticipated these delays, with final deadlines expected in October 2025 or later.
The U.S. Securities and Exchange Commission (SEC) delayed approval decisions on spot and exchange-traded funds (ETFs) late Tuesday, in line with analyst expectations.
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The SEC said it will wait until June 15 for the next steps for the Bitwise DOGE ETF and June 17 for the Franklin XRP Fund, separate filings show.
The law says the Commission has 45 days from when a proposed rule change is announced to approve it, reject it, or start a process to decide if it should be rejected. These 45 days can be extended to 90 days if the Commission thinks more time is needed.
"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," the agency said in the filings.
Bloomberg Intelligence analyst James Seyffart said in an X post that these delays are expected as final deadlines for most filings are in October or later.
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