The U.S. SEC has delayed decisions on spot #xrp and #Dogecoin #etf applications from 21Shares and Grayscale Investments. These delays follow a recent pattern, as the regulator takes more time to evaluate altcoin ETF filings amid growing market interest.
In February, 21Shares filed for an XRP ETF, hoping to give institutions a way to invest in $XRP through the Cboe BZX Exchange. In March, Grayscale submitted an application for a spot Dogecoin ETF, following the launch of its $DOGE Trust earlier this year.
Each application is being evaluated to check if it meets the investor protection rules set out by Section 6(b)(5) of the Exchange Act. The SEC now plans to decide on the XRP ETF by June 17, while a similar timeline is expected for Dogecoin.
Though the delays aren’t rejections, they add to uncertainty in the altcoin ETF space. Despite the regulatory pause, prices remain steady. XRP traded at $2.355, up 1.66%, while Dogecoin rose 0.75% to $0.2264, according to CoinMarketCap.
Earlier this week, the SEC also delayed a decision on a Solana ETF, showing that it’s not singling out any asset. Bloomberg analyst James Seyffart said such delays are standard, and any early XRP approval around June would be notable.
Since Paul Atkins took over as SEC chief, investors feel more confident. His progressive attitude could help determine the future of altcoin ETFs. As people eagerly wait for these approvals, they might help propel a new wave of altcoins this season.
