While the SEC extends the decision timeline for Ripple (XRP) and Dogecoin (DOGE), similar decisions may also come this week for Solana (SOL) and other altcoins.
The U.S. Securities and Exchange Commission (SEC) announced that it has extended the decision timeline for the exchange rule change applications for the Bitwise Dogecoin ETF and the Franklin XRP Fund. According to the statement on the SEC's website, the new decision date for the Dogecoin ETF application is set for June 15, and for the XRP ETF application, it is June 17, 2025.
The SEC explained the reason for this postponement as needing more time to evaluate the proposed rule change and the issues that have arisen. The institution has recently begun to adopt a softer stance towards cryptocurrencies. After Donald Trump took the presidency, the SEC withdrew some cases and started holding public meetings with the crypto sector. The new SEC Chair, Paul Atkins, emphasized that he expects great benefits from digital assets, stating that the regulatory framework will become clearer.
New delays are pending
Bloomberg Intelligence ETF analyst James Seyffart stated in a post on the social media platform X that such delays are expected and similar decisions could emerge this week for other altcoin ETF applications such as Solana (SOL) and Hedera (HBAR). Delays have also been announced for products like Ethereum staking ETF and Grayscale Hedera Trust.
It may last until October 2025
Seyffart notes that most of the final decision dates have been pushed to October 2025 and beyond for applications. The SEC's cautious approach may lead to shaping market expectations before final decisions. In particular, the fate of new ETF applications continues to create a critical agenda for the crypto markets.