The US Securities and Exchange Commission (SECV) has delayed its verdict on two altcoin-based exchange-traded funds (ETFs).

美國證券交易委員會（SECV）推遲了對兩項基於Altcoin的交易所交易基金（ETF）的判決。

What Happened: The regulator has extended its review of a proposed Dogecoin ETF from Bitwise and an XRP ETF from Franklin Templeton until June 2025, according to filings on Wednesday. The filings, which are responses to March requests from NYSE Arca and Cboe BZX Exchange, respectively, saw the SEC defer a final decision on both ETFs.

發生了什麼：根據周三的文件，監管機構已將對擬議的Dogecoin ETF的審查從Bitwise和Franklin Templeton的XRP ETF擴展到2025年6月。這些文件分別是對NYSE ARCA和CBOE BZX Exchange的三月請求的回應，分別看到SEC推遲了對這兩個ETF的最終決定。

The agency did not provide a specific reason for the extension, which falls under its routine extension authority. The deferral comes as Nasdaq submitted a separate request to list a 21Shares Dogecoin ETF.

該機構沒有提供特定的延期理由，該擴展名屬於其常規擴展機構。延期是納斯達克提交單獨的請求以列出21shares dogecoin etf的要求。

This brings three major exchange proposals involving altcoin ETFs into the spotlight within a short period.

這將涉及Altcoin ETF的三項主要交換提案在短時間內引起了人們的關注。

Why It Matters: The proposed Bitwise ETF, which would hold Dogecoin, is applying to list on the NYSE Arca exchange. Meanwhile, the proposed Franklin Templeton ETF, which would hold XRP, is applying for listing on the Cboe BZX Exchange.

為什麼重要的是：擬議中的dogecoin的擬議位ETF正在申請NYSE ARCA Exchange上的列表。同時，擬議的富蘭克林·鄧普頓（Franklin Templeton）ETF（將持有XRP）申請在CBOE BZX交易所上市。

These ETFs aim to provide investors with convenient and accessible avenues to invest in altcoins through traditional financial channels.

這些ETF旨在為投資者提供方便且可訪問的途徑，以通過傳統的金融渠道投資Altcoins。

The filings follow the earlier approval of Bitcoin and Ethereum ETFs, which are already trading on US exchanges.

這些文件遵循比特幣和以太坊ETF的早期批准，這些比特幣和以太坊ETF已經在美國交易所進行交易。

The Dogecoin and XRP ETF applications are part of a broader wave of crypto fund applications.

Dogecoin和XRP ETF應用是更廣泛的加密基金應用浪潮的一部分。

As of April 29, Dogecoin (DOGE) had a market capitalization of about $26 billion and XRP, the native token of the XRP Ledger, was valued at approximately $133 billion, according to CoinGecko.

據Coingecko稱，截至4月29日，Dogecoin（Doge）的市值約為260億美元，XRP Ledger的本地令牌XRP的價值約為1330億美元。

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These ETFs would allow investors to gain exposure to Dogecoin and XRP through traditional financial channels. The filings follow earlier ETF approvals tied to Bitcoin and Ethereum, which are already trading on US exchanges.

這些ETF將允許投資者通過傳統的財務渠道獲得對Dogecoin和XRP的接觸。這些文件遵循與比特幣和以太坊相關的ETF批准，這些ETF已經在美國交易所進行交易。

The Dogecoin ETF and XRP ETF applications reflect asset managers’ efforts to diversify crypto-linked products while navigating regulatory review. No final decision has been issued yet for either fund.

Dogecoin ETF和XRP ETF應用程序反映了資產管理人員在瀏覽監管審查的同時為多樣化的加密產品多樣化的努力。尚未針對任何一個基金發布最終決定。

The SEC has also received a growing number of crypto ETF filings in 2025. By April 21, approximately 70 applications were pending, including proposals for ETFs holding XRP, Solana, Litecoin, Dogecoin, and lesser-known tokens such as Penguins and 2x Melania.

SEC在2025年還收到了越來越多的加密ETF申請。到4月21日，大約有70份申請，包括持有XRP，Solana，Litecoin，Dogecoin的ETF的提案，以及較鮮為人知的代幣，例如企鵝和2x Melania。

Issuers are now filing ETFs for “everything from XRP… to Doge and everything in between,” said Eric Balchunas, a senior ETF analyst at Bloomberg, in a post on X.

發行人現在正在向彭博社高級ETF分析師埃里克·巴爾庫納斯（Eric Balchunas）在X上發表的帖子中提交“從XRP…到Doge以及兩者之間的所有內容”的ETF。

According to Balchunas, getting an ETF does not ensure investor inflows but places the asset “where the vast majority of the listeners are.”

根據Balchunas的說法，獲得ETF並不能確保投資者流入，而是將資產放在“絕大多數聽眾所在的地方”。

These filings follow increasing political attention toward crypto regulation. President Donald Trump has publicly supported reducing restrictions on digital assets, which has coincided with more ETF proposals reaching US regulators.

這些文件遵循對加密監管的越來越多的政治關注。唐納德·特朗普（Donald Trump）總統公開支持減少對數字資產的限制，這與更多的ETF提議聯繫到美國監管機構。

While Nasdaq supports the expansion of crypto ETFs, it also wants stronger compliance standards. In a comment letter dated April 25, the exchange urged the SEC to apply the same rules to digital assets that apply to traditional securities.

儘管納斯達克支持加密ETF的擴展，但它也需要更強的合規性標準。在4月25日的評論信中，交易所敦促SEC將相同的規則應用於適用於傳統證券的數字資產。

If a crypto asset operates as a security, it should be regulated as one, stated Nasdaq’s letter. The exchange stressed that maintaining consistent oversight is key to protecting market stability and investor trust.

納斯達克的信中指出，如果加密資產作為安全性運行，則應將其作為安全性。交流強調，保持一致的監督是保護市場穩定和投資者信任的關鍵。

This request for clearer rules comes as exchanges continue to file listings such as the Dogecoin ETF and XRP ETF. With more altcoin ETFs pending, market participants await the SEC’s next round of decisions in June.

此要求更清晰的規則隨著交易所繼續提交列表（例如Dogecoin ETF和XRP ETF）的申請。隨著更多的Altcoin ETF待處理，市場參與者在6月等待SEC的下一輪決定。

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