The U.S. Securities and Exchange Commission pushed back deadlines for a few proposals on whether to approve exchange-traded funds tracking XRP and Dogecoin.
The SEC asked for public comments for the 21Shares Core XRP Trust, the Grayscale XRP Trust, and the Grayscale Dogecoin Trust, according to filings posted on Tuesday.
“Institution of proceedings is appropriate at this time in view of the legal and policy issues raised by the proposed rule change,” the SEC said in one of the filings. “Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved. Rather, the Commission seeks and encourages interested persons to provide comments on the proposed rule change.”
The SEC also pushed back making a decision on whether to approve a proposal to allow Bitwise’s Ethereum ETF to permit staking, according to a filing on Tuesday.
The SEC has delayed and asked for comments for several crypto ETF proposals over the last few months as it weighs dozens of proposals. The agency under the Trump administration has taken a different approach to digital assets. During the Biden administration and following a pivotal court ruling, the SEC approved the listing and trading of spot bitcoin ETFs and later spot Ethereum ETFs. Since President Donald Trump took office in January, the SEC has dropped several lawsuits against crypto firms and has held public crypto roundtables to discuss how to regulate the industry.
SEC delays on spot crypto ETFs are to be expected, said Bloomberg Intelligence ETF analyst James Seyffart on Tuesday in a post on X.
“If we’re gonna see early approvals from the SEC on any of these assets — i wouldn’t expect to see them until late June or early July at absolute earliest. More likely to be in early 4Q,” Seyffart said.
Seyffart also noted that no matter who is in charge at the SEC, the agency usually takes the full time allotted to respond.
“Almost all of these filings have final due dates in October. Early decisions would the action that’s out of the norm. No matter how ‘Crypto-friendly; this SEC is,” Seyffart said in a post on X.
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