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The filings from Grayscale Investments and 21Shares, respectively, are now on hold as the regulator seeks more time to assess whether these products align with investor protection standards under the Exchange Act.
While the delays aren’t rejections, they signal the SEC’s cautious approach to altcoins. The new decision deadlines are now set for mid-June, extending a string of ETF deferrals that also includes a pending Solana ETF application from 21Shares and Bitwise.
The proposed XRP fund, submitted in February, aims to give institutional players access to Ripple’s token via Cboe’s BZX Exchange. Meanwhile, Grayscale’s Dogecoin ETF request follows its earlier DOGE Trust product and is part of the firm’s broader push to expand spot crypto ETFs beyond Bitcoin and Ethereum.
Despite regulatory holdups, both Dogecoin and XRP have seen minor price upticks. XRP recently traded at $2.355, up 1.66% in 24 hours, while DOGE held at $0.2264 with a 0.75% gain, according to CoinMarketCap. Market watchers continue to eye these developments as potential fuel for a broader altcoin rally later this year.
Bloomberg ETF analyst James Seyffart commented that such delays are par for the course, especially for altcoins. While some approvals may arrive as soon as June, he emphasized that the SEC often uses the full review period granted under its rules.
The crypto community is also watching SEC Chair Paul Atkins’ tenure closely. Known for a progressive stance on digital assets, his leadership could prove pivotal in moving altcoin ETFs closer to regulatory acceptance.
The post SEC Postpones Decision on XRP and Dogecoin ETFs appeared first on Coindoo.
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