SEC's Postponement Decision for Ethereum, XRP, and DOGE: What to Expect?
The U.S. Securities and Exchange Commission (SEC) has postponed its decision regarding the ETF applications for XRP and Dogecoin and has begun to gather public opinion.
The SEC announced that it has postponed its decision on the ETF applications made for the 21Shares Core XRP Trust, Grayscale XRP Trust, and Grayscale Dogecoin Trust. The commission stated that it wants to consider public comments regarding these ETF proposals before making its decision.
In a statement made by the SEC, it was emphasized that the ETF applications have raised "important legal and policy issues" and therefore the process needs to be examined in detail. The commission noted that this public comment gathering process does not yet represent a final decision but indicates the importance of evaluating the views of the industry and relevant parties.
Bitwise Ethereum ETF decision also pending
At the same time, the SEC announced that it has also postponed its decision regarding the staking activities involved in Bitwise's Ethereum (ETH) ETF application. This decision is also expected to be shaped by public opinions.
The SEC, which adopted a more open approach to digital assets during the Trump administration, has evaluated many crypto ETF applications in recent months. Bloomberg ETF analyst James Seyffart stated that the SEC has a tendency to postpone its decisions and that expecting an early approval would not be realistic. According to Seyffart, any early approval may occur at the earliest by the end of June or the beginning of July, but it is likely to be clarified in the fall period.
