#AltcoinETFsPostponed

The US Securities and Exchange Commission (SEC) has postponed its decision on several altcoin exchange-traded funds (ETFs), including those for XRP and Dogecoin. Here are the key details:

Postponed ETF Decisions:

- *Franklin Templeton's Spot XRP ETF*: The SEC has extended the review period to June 17, 2025, citing the need for additional time to evaluate the proposed rule change and address regulatory issues.

- *Bitwise's Dogecoin ETF*: The NYSE Arca-proposed ETF has also been delayed, with the SEC pushing its decision to June 17, 2025.

- *21Shares Dogecoin ETF*: Nasdaq's proposed ETF is also part of the delayed decisions.

Reasons for Delay:

- The SEC requires more time to consider the proposals fully, following standard procedural deadlines.

- Analysts suggest that these delays are procedural and don't necessarily signal rejection, citing similar delays for Bitcoin and Ethereum ETFs before their approvals.¹ ²

Impact on Market:

- XRP price dropped below $2.30 after the announcement, posting 3% losses on the day.

- Despite delays, some analysts predict potential growth for XRP, with possible price targets above $2.50 if it holds above $2.00.

Broader Context:

- The SEC is currently reviewing around 70 crypto ETF proposals, many involving altcoins like Solana and Litecoin.

- Some analysts believe investor interest may remain concentrated in Bitcoin and Ether ETFs, while others see potential for altcoin ETFs to attract market demand.