The U.S. Securities and Exchange Commission (SEC) delayed approval decisions on spot XRP (XRP) and Dogecoin (DOGE) exchange-traded funds (ETFs) late Tuesday, as analysts had expected.
One analyst pointed out that most ETF filings have final deadlines in October or later, so they anticipated the delays.
The SEC stated in separate filings that it will wait until June 15 for the next steps on the Bitwise DOGE ETF and until June 17 for the Franklin XRP Fund.
The law states that the Commission has 45 days from the announcement of a proposed rule change to approve, reject, or begin the process of deciding on its rejection. The Commission can extend this period to 90 days if it deems more time necessary.
The agency stated in the filings that it found a longer period for action on the proposed rule change appropriate, allowing sufficient time to consider the proposal and the issues it raises.
Bloomberg Intelligence analyst James Seyffart stated in an X post that he anticipated these delays, since most final deadlines for the filings fall in October or later.
The SEC also delayed decisions on Ethereum Staking and Dogecoin ETFs today. Analysts expect more delays today or later this week for some Solana and Hedera/HBAR ETF filings. In my opinion, this outcome is expected. Most final deadlines for these filings fall in October 2025 or later.
Over the past 24 hours, XRP and DOGE showed little change, while Bitcoin price action remained flat.
