Catenaa, Wednesday, May 07, 2025-The US Securities and Exchange Commission (SEC) has delayed decisions on two high-profile cryptocurrency exchange-traded funds tied to Dogecoin and XRP, as the agency faces mounting pressure to address a wave of digital asset filings amid a broader shift in its regulatory tone.
In twin notices published Tuesday, the SEC said it would extend its review period for Bitwise’s proposed Dogecoin ETF until June 15 and Franklin Templeton’s XRP Trust until June 17.
The agency cited the need for additional time to assess the proposals, stating it is “appropriate to designate a longer period within which to take action.”
The delay comes as the SEC navigates a sharp uptick in ETF applications following the approval of Bitcoin and Ethereum ETFs last year.
Asset managers including Grayscale, Franklin Templeton, and 21Shares are pushing for altcoin-based ETFs, with filings tied to Solana, Litecoin, and Hedera now also under review.
On Tuesday, Nasdaq submitted a fresh proposal to list 21Shares’ Dogecoin ETF, adding to the growing queue.
The delays are not seen as rejections. Analysts, including Bloomberg’s James Seyffart, said such procedural pauses are routine. Most final decisions are not expected until late 2025.
The regulatory landscape is shifting under SEC Chair Paul Atkins, appointed by President Donald Trump, who has voiced support for crypto innovation.
While the agency has recently dropped several lawsuits against crypto firms, its cautious approach to new ETF products persists.
