The U.S. Securities and Exchange Commission (SEC) delayed decisions on three major cryptocurrency exchange-traded fund (ETF) applications: Franklin Templeton's spot XRP ETF, Fidelity's spot Ethereum ETF (with staking features), and Bitwise's spot DOGE ETF.

This postponement fueled speculation that other altcoins, such as Solana (SOL) and Hedera (HBAR), might face similar delays.

SEC Postpones Key Crypto ETF Decisions

SEC Chair Paul Atkins postponed these applications. Decisions on the XRP, Ethereum staking, and Dogecoin ETFs are now pending, with a target date of June 17, 2025, for federal regulators to respond. Specific review dates before mid-2025 are still to be determined.

The SEC cited regulatory hurdles as the reason for the delay, a move that could hinder institutional adoption of XRP, Ethereum, and Dogecoin, and potentially impact their market prices.

Leading analyst James Seyffart argued that these delays are standard procedure and don't necessarily signal rejection, suggesting a strong likelihood of approval by October 2025 or later. He emphasized the need for clear regulatory decisions to provide legitimacy to crypto investments and address investor frustration over the lack of clear guidance. The SEC's actions, he indicated, reflect a balancing act between fostering innovation and responsible oversight.

Bloomberg Analysts' Predictions

Bloomberg ETF analysts James Seyffart and Eric Balchunas offered their perspectives following the SEC's delays. Seyffart noted on X that the SEC had postponed decisions on Ethereum staking and Dogecoin ETFs, suggesting further delays for pending applications, including Hedera and Solana.

Source: X

Most analysts anticipated these postponements, with many final deadlines extending into October 2025 and beyond. While delays are in place, they predict a potentially faster approval process could emerge mid-year. Seyffart expressed optimism about multiple crypto ETF approvals between late June and early July, citing Grayscale's anticipated GDLC conversion as a potential catalyst. Balchunas stated that no approvals would occur until Chair Atkins' confirmation, adding that following the confirmation, the SEC was engaging with external parties to develop a new strategy.

Source: X

Analysts expect a surge in crypto ETF activity once regulatory clarity is established.

21Shares Files for DOGE ETF

21Shares filed for a Dogecoin ETF to be listed on Nasdaq (SR-NASDAQ-2025-034). Their existing DOGE ETP has seen a 17.74% year-to-date return, managing $1.64 million in assets. The filing was classified under Nasdaq Rule 5711(d) for commodity-based trust shares.

21Shares DOGE ETF filing | Source: X

21Shares' DOGE ETF filing coincided with the SEC's delay in approving four proposals for ETH staking, DOGE, SOL, and HBAR ETFs. Resolutions are now expected in Q3 or Q4 2025, although the Bloomberg analysts suggest potential approvals in June or July. A DOGE ETF could significantly increase institutional investment in Dogecoin without requiring direct asset ownership, potentially boosting Dogecoin beyond its "meme coin" status if widely adopted.

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