SEC Pushes Back Ruling on Dogecoin and XRP ETF Applications

SEC Pushes Back Decisions on Dogecoin and XRP ETFs Amid Ongoing Review

The U.S. Securities and Exchange Commission (SEC) announced on Tuesday that it will delay its decision on the approval of exchange-traded funds (ETFs) for Dogecoin (DOGE) and XRP (XRP), extending the review period for both products.

The SEC revealed that it would push the decision deadlines to June 15 for the Bitwise DOGE ETF and June 17 for the Franklin XRP Fund, as per filings made public.

Under the SEC’s regulatory framework, the commission has 45 days from the filing of a proposed rule change to approve, reject, or request further review. However, the SEC has the option to extend this period for an additional 45 days, bringing the total review time to 90 days when deemed necessary for further analysis.

“The extension will allow the Commission sufficient time to evaluate the proposed rule change and address any concerns raised,” the SEC’s filings noted.

James Seyffart, a Bloomberg Intelligence analyst, pointed out that such delays are common in the ETF approval process. He added that final approval decisions for most ETF filings typically fall later in the year, often in the October-November timeframe.

For now, the price of Dogecoin and XRP has remained relatively stable, tracking sideways in line with broader market trends.