SEC delays decisions on XRP and DOGE ETFs

The U.S. Securities and Exchange Commission (SEC) has delayed its decision on whether to approve two proposed cryptocurrency investment funds (ETFs) that hold Dogecoin and XRP, according to records.

The U.S. regulator pushed back its deadline for deciding on the proposed ETF listings to June, according to two records reviewed by Cointelegraph.

The records were responses to March requests from U.S. exchanges NYSE Arca and Cboe BZX Exchange to list Bitwise's Dogecoin (DOGE) ETF and Franklin Templeton's XRP (XRP) ETF, respectively.

They arrived on the same day that Nasdaq, another U.S. exchange, requested permission to list a Dogecoin ETF from 21Shares.

Dogecoin is the most traded memecoin in the world, with a market capitalization of about $26 billion as of April 29, according to data from CoinGecko. XRP is the native token of the XRP Ledger blockchain network. Its market capitalization is approximately $133 billion, according to CoinGecko data.

Flood of records

In 2025, the SEC received requests to authorize dozens of altcoin ETFs for listing in the U.S. As of April 21, around 70 crypto ETFs were awaiting review by the SEC.

Asset managers are proposing funds that hold "[e]verything from XRP, Litecoin, and Solana to Penguins, Doge, and 2x Melania and everything in between," said Bloomberg analyst Eric Balchunas in a post on April 21 on platform X.

The flood of proposals comes as U.S. President Donald Trump pressures the SEC to adopt a more welcoming stance towards cryptocurrencies.

However, analysts warn that investor demand for altcoin ETFs may be lukewarm compared to funds that hold major cryptocurrencies like Bitcoin (BTC) and Ether (ETH).

“Having your coin become an ETF is like being in a band and having your songs added to all the music streaming services,” said Balchunas.