U.S. SEC. Delays Decision on Bitwise Dogecoin ETF Until June 15

Wall Street analysts predict the U.S. Securities and Exchange Commission (SEC) will approve multiple spot Bitcoin ETFs before the end of the third quarter.

Dogecoin's price suggests a potential rally towards its all-time high in the near future.

The SEC delayed its decision on the Bitwise Dogecoin ETF, scheduled for listing on NYSE Arca. Assistant Secretary Sherry Haywood announced a postponement until June 15, 2025, citing the need for sufficient time to consider the proposal and related issues.

SEC's Approach to Dogecoin ETFs

The SEC delayed decisions on several crypto ETFs on Monday, including spot XRP and Dogecoin ETFs. Bloomberg senior ETF analyst James Seyffart anticipates similar delays for Solana (SOL) and Hedera (HBAR) ETFs this week. However, Seyffart believes the SEC, under the leadership of Paul Atkins, will approve numerous spot crypto ETFs during the third quarter, before the mid-October deadlines.

Dogecoin Price Analysis

The initial Dogecoin price drop anticipated in the first quarter has lessened, with the coin closing last week on a bullish note. This large-cap memecoin, boasting a fully diluted valuation of approximately $26.7 billion and a 24-hour average trading volume of around $1 billion, increased by over 15 percent in the past two weeks, trading at approximately $0.179 at the time of writing.

Technically, DOGE appears poised to enter a price discovery phase in the coming months. Crypto analyst Ali Martinez predicts DOGE will surpass its all-time high of over 74 cents if it closes above 20 cents in April.