SEC Delays Decisions on XRP and Dogecoin ETFs, Extending Review Period
The U.S. Securities and Exchange Commission (SEC) announced late Tuesday that it would delay its decisions on the approval of spot XRP (XRP) and Dogecoin (DOGE) exchange-traded funds (ETFs), in line with analyst expectations.
The SEC stated that it would extend the review period until June 15 for the Bitwise DOGE ETF and June 17 for the Franklin XRP Fund, according to separate filings.
Under the law, the SEC has 45 days from the announcement of a proposed rule change to either approve, reject, or initiate further proceedings to determine whether the change should be rejected. This 45-day period can be extended to 90 days if the SEC requires additional time for consideration.
“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 SEC explained in its filings.
Bloomberg Intelligence analyst James Seyffart noted in a post on X that such delays are typical, as most ETF filings have final approval deadlines set for October or later.
Meanwhile, both XRP and DOGE have remained relatively unchanged in the past 24 hours, reflecting flat price movements similar to Bitcoin.
