- The SEC delayed decisions on the Bitwise Dogecoin ETF and Franklin XRP Fund until mid-June.
- Crypto ETF proposals are piling up as the SEC under new leadership takes a friendlier stance toward digital assets.
- Analysts expect more delays, with most final ETF decisions likely pushed to October 2025 or later.
The U.S. Securities and Exchange Commission (SEC) has decided to pump the brakes a bit on making calls about a couple of new crypto ETFs — one tracking XRP and the other tracking Dogecoin.
In filings posted Tuesday, the SEC said it would delay its decision until June 15 for the Bitwise Dogecoin ETF and June 17 for the Franklin XRP Fund. “The Commission finds it appropriate to designate a longer period… so that it has sufficient time to consider the proposed rule change and the issues raised therein,” the agency wrote — pretty much the usual language they use when they’re hitting pause.
Crypto ETFs Keep Piling Up
Lately, a lot of firms have been lining up to launch crypto ETFs, riding on what feels like a more chill vibe at the SEC. Since President Trump stepped into office in January, the agency has dropped some lawsuits against crypto firms and has been hosting public roundtables to figure out the best way to regulate the space.
There’s also a new SEC chair in town — Paul Atkins — who’s seen as very crypto-friendly. Just last week, he said he expects “huge benefits” from digital assets and plans to work with Congress to build a clear framework for crypto.
Under the Biden administration, the SEC had already green-lit spot Bitcoin ETFs in January 2024 and then spot Ethereum ETFs by July that same year, after a major court win for Grayscale. Now? The floodgates are open — there are dozens of new ETF proposals, from Solana to XRP to Dogecoin.
More Delays Are Likely Coming
Also on Tuesday, Nasdaq submitted a proposal to list 21Shares’ Dogecoin ETF, adding even more to the SEC’s already crowded table.
Meanwhile, the SEC pushed back another deadline, this time for deciding whether to allow staking in Franklin’s Ethereum ETF, with a new decision date set for June 16.
According to Bloomberg Intelligence analyst James Seyffart, don’t be surprised if the delays keep coming. He posted on X that final deadlines for most of these crypto-related decisions probably won’t hit until October 2025 or later. “This is expected IMO,” Seyffart said.
