The U.S. Securities and Exchange Commission (SEC) has postponed its decision on the proposal to change the listing and trading rules for the Bitwise Dogecoin ETF under NYSE Arca.
According to an announcement by Sherry Haywood, assistant secretary of the SEC, the agency has designated June 15, 2025, as the next date on which the committee will decide on the Bitwise Dogecoin ETF.
The notice states: "The committee sees the need to designate a longer period to take action on the proposed rule change to have enough time to review the proposed rule change and the issues raised therein."
A closer look at the SEC's playbook on the Dogecoin ETF
The U.S. SEC has delayed decisions on several cryptocurrency ETF products on Monday, led by the XRP and Dogecoin spot ETFs. According to James Seyffart, a senior ETF analyst at Bloomberg, the U.S. SEC is likely to delay decisions on Solana (SOL) and Hedera (HBAR) spot ETFs this week.
However, Seyffart believes that the SEC, under the new leadership of Paul Atkins, will approve a range of spot cryptocurrency ETFs in the third quarter and before the deadline in mid-October.
DOGE Price Analysis
The initial Dogecoin sell-off expected in the first quarter has significantly decreased after the meme lord closed last week with bullish prospects. The large-cap memecoin, with a fully diluted valuation of about $26.7 billion and an average 24-hour trading volume of about $1 billion, has risen over 15 percent in the past two weeks to trade around $0.179 at the time of writing.
From a technical analysis perspective, the price of DOGE is in a good preparation phase to enter the price discovery phase in the coming months. According to cryptocurrency analyst Ali Martinez, DOGE's price will reclaim its all-time high of over 74 cents if the memecoin closes the month of April above 20 cents.