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SEC delays decisions on XRP and Dogecoin ETFs

29 Apr, 2025 | by Sarah Wynn | Coinhub News: Powered By The Block

The U.S. Securities and Exchange Commission is delaying making decisions on whether to allow the listing and trading of crypto exchange-traded funds tracking XRP and another tracking Dogecoin.

In filings made on the SEC’s website on Tuesday, the agency said it would wait until June 15 to decide next steps for the Bitwise Dogecoin ETF and June 17 for the Franklin XRP Fund.

“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,” the agency said in the filings.

Multiple firms have been looking to launch several crypto ETFs over the past few months amid a more friendly crypto regulatory shift at the SEC. 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.

The agency also has a new chair, Paul Atkins, who is considered friendly toward crypto. During his first public remarks last week, Atkins said he anticipates “huge benefits” from digital assets and plans to work with lawmakers to create a regulatory framework for crypto.

Under the Biden administration, the agency approved the listing of spot Bitcoin ETFs in January 2024 and spot Ethereum ETFs later in July, following a decisive court ruling brought on by Grayscale. Now, the agency faces dozens of proposals from ETFs ranging from tracking Solana to XRP to Dogecoin.

Also on Tuesday, Nasdaq submitted a proposal to list 21Shares’ Dogecoin ETF.

The SEC also pushed back its Tuesday deadline for deciding whether to allow staking for Franklin’s Ethereum ETF to June 16.

Bloomberg Intelligence ETF analyst James Seyffart said in a post on X on Tuesday that he expects more delays this week.

“This is expected IMO,” Seyffart said. “Final deadlines for most of this stuff is in October 2025 or later.”

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