• SEC postpones rulings on Dogecoin and XRP ETFs, pushing deadlines to June 2025.
• Dogecoin has a market capitalization of $26 billion, and that of XRP is $133 billion.
• The SEC’s conservative approach to crypto ETFs is indicative of continuing regulatory debate and overviews.

The US Securities and Exchange Commission (SEC) has delayed decisions on five cryptocurrency exchange-traded funds (ETFs), including two that would hold Dogecoin (DOGE) and XRP (XRP). These delays affect prominent ETFs like the Bitwise Dogecoin ETF and Franklin Templeton’s XRP ETF. Bloomberg analysts James Seyffart and Eric Balchunas are expected to make the move.

We also had the SEC delay decisions on Ethereum Staking and Dogecoin ETFs today. I am expecting more delays today or at least this week on some Solana and Hedera/HBAR ETF filings. This is expected IMO. Final deadlines for most of this stuff is in October 2025 or later. https://t.co/kOZNCSjy6c

— James Seyffart (@JSeyff) April 29, 2025

SEC’s Delay Affects Major ETF Filings

The SEC’s delay affects the ETF filings of some major institutions. These include Bitwise’s Dogecoin ETF, Grayscale’s spot Hedera ETF, and Franklin Templeton’s spot Solana ETF. Analysts had anticipated the setback because of the talks that were taking place with the regulators. Seyffart noted that deliberations may be delayed even longer and that deadlines may extend to October 2025 and beyond.

Despite the delays, the SEC’s approach is consistent with its increasingly cautious stance on cryptocurrency-related financial products. The regulatory body has now extended its deadline for ruling on the proposed Dogecoin and XRP ETFs until June. This move follows formal requests from US exchanges, including NYSE Arca and Cboe BZX, for approval.

Dogecoin has had huge trading volumes with a market cap of around $26 billion on April 29. In comparison, the native cryptocurrency of the XRP Ledger blockchain has a much higher market cap of $133 billion. Such huge market interest gives credence to the SEC’s scrutiny of these ETFs.

XRP and DOGE ETFs Face SEC Scrutiny

The SEC’s regulatory approach to cryptocurrencies began under the Trump administration, although it has become more stringent under subsequent leadership. Crypto ETF applications now undergo more in-depth reviews to ensure compliance with legal frameworks.

Particularly, applications for Dogecoin and XRP ETFs have garnered considerable attention, considering the rising demand for memecoins and blockchain assets. In the latest news, the SEC is also postponing the consideration of Franklin Templeton’s Ethereum staking ETF and Grayscale’s Hedera Trust ETF. 

The postponement reflects a general trend as more crypto ETFs wait to be approved, with several in the pipeline currently under review. The SEC is taking a measured approach as it adapts to the growing presence of cryptocurrency in traditional finance.

Read More: Franklin’s XRP Spot ETF Hits Regulatory Pause, SEC Sets New Deadline for June 17