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SEC Defer Decision on Dogecoin and Ripple ETF Proposals

Securities regulatory body postpones decision on Bitwise Dogecoin ETF and Franklin Templeton's XRP product, setting a June deadline for determination.

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Hold up on Altcoin ETFs: SEC Delays Decisions on Dogecoin and XRP

SEC Defer Decision on Dogecoin and Ripple ETF Proposals

Investors eager for exposure to Dogecoin and XRP might need to wait a bit longer. The Securities and Exchange Commission (SEC) has put the brakes on making decisions for spot ETFs, following a flurry of applications for altcoin ETFs.

SEC postponed decisions on Bitwise's Dogecoin ETF, Franklin Templeton's XRP product, and several others, including Solana and HBAR ETFs. Delays were also announced for in-kind creation and redemption mechanisms for Invesco Galaxy's Bitcoin and Ethereum ETFs.

The surge in applications for altcoin ETFs has been fueled by the success of Bitcoin ETFs in the past year, prompting asset managers to push forward with proposals for other crypto assets like Solana, Litecoin, and Cardano.

The SEC usually takes time when evaluating proposed products such as ETFs, given the regulatory caution towards novel financial products tied to digital assets. The massive pileup of over 70 crypto ETFs waiting for approval creates operational strain, necessitating extensions and thorough evaluations.

Both Dogecoin and XRP boast popular appeal among traders, with DOGE being the eighth-biggest cryptocurrency by market cap and XRP the fourth-largest. However, the success of Bitcoin ETFs last year's approval has yet to be replicated in investment vehicles built around Ethereum, the second-biggest coin.

Fear not, however. The SEC's cautious approach isn't necessarily a sign of disapproval. Delays are just par for the course and don't automatically mean a rejection. Take Franklin Templeton's XRP ETF delay to June 17, 2025, for example. Analysts note these delays follow the SEC’s established pattern regarding altcoin ETFs, avoiding hasty decisions even for high-profile assets such as XRP or Dogecoin.

Article Edited by Andrew Hayward

Note: This article has been updated to reflect additional ETF delays

Daily Debrief Newsletter

  1. The Securities and Exchange Commission (SEC) has delayed decisions on various altcoin ETFs, including those based on Dogecoin and XRP.
  2. Bitcoin ETFs have seen success in the past year, leading to a surge in applications for ETFs tied to other cryptocurrencies like Solana, Litecoin, and Cardano.
  3. The massive pileup of over 70 crypto ETFs waiting for approval creates operational strain, necessitating extensions and thorough evaluations.
  4. The SEC usually takes time when evaluating proposed products such as ETFs, given the regulatory caution towards novel financial products tied to digital assets.
  5. Both Dogecoin and XRP boast popular appeal among traders, with DOGE being the eighth-biggest cryptocurrency by market cap and XRP the fourth-largest.
  6. The success of Bitcoin ETFs last year's approval has yet to be replicated in investment vehicles built around Ethereum, the second-biggest coin.
  7. Delays in decisions on ETFs don't automatically mean a rejection, as evidenced by the XRP ETF delay to June 17, 2025.
  8. Analysts note these delays follow the SEC’s established pattern regarding altcoin ETFs, avoiding hasty decisions even for high-profile assets such as XRP or Dogecoin.
  9. The operational strain caused by the pileup of ETF applications has led to delays in mechanisms like in-kind creation and redemption for Bitcoin and Ethereum ETFs, such as those offered by Invesco Galaxy.
SEC Delays Decision on Bitwise Dogecoin ETF and Franklin Templeton's XRP Product Until June

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