SEC Delays Decision on Spot Ripple, Dogecoin ETF Applications

The U.S. Securities and Exchange Commission (SEC) has postponed decisions on two cryptocurrency exchange-traded fund (ETF) applications: one tracking XRP and another tracking Dogecoin.

Bitwise proposed the Dogecoin ETF, while Franklin Templeton submitted the XRP ETF application in mid-March.

The review period has been extended to June 15th for the Dogecoin ETF and June 17th for the XRP ETF. The SEC filing states: “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. Accordingly, the Commission… designates June 17, 2025, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change.”

Fox Business' Eleanor Terrett, citing ETF expert James Seyffart, described these extended dates as "intermediate," suggesting further delays are likely, potentially until the fourth quarter of 2025. Terrett tweeted: "These dates are all intermediate and we will likely see final decisions on a lot of the crypto ETPs in Q4. For the $XRP spot ETF, James is eyeing mid-October, around the 18th, as a final decision deadline."

Additionally, Wu Blockchain reported that the SEC has delayed several other crypto ETF applications, including a Solana ETF from Franklin Templeton and Grayscale's Hedera ETF.

The XRP ETF delay follows the SEC's recent approval of three ProShares futures-based Bitcoin ETFs. While initially reported for launch on April 30th, this was later corrected to May 14th.