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The US Securities and Exchange Commission has delayed making a decision on two cryptocurrency-related ETF applications, tracking the performance of XRP and DOGE.
The meme coin exchange-traded fund was proposed by Bitwise, while the XRP fund comes from Franklin Templeton, which was filed in mid-March.
The review period has been extended to June 15 for the Dogecoin ETF and June 17 for the Ripple-based one.
“The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein.
Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act, 5 designates June 17, 2025, as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change (File No. SR-CboeBZX-2025-040),”- reads the filing.
Fox Business’s Eleanor Terrett, citing information from ETF expert James Seyffart, noted that the new dates are all “intermediate” and added that there will likely be even more delays until Q4 this year.
Some more detail after speaking with ETF guru @JSeyff just now:
These dates are all intermediate and we will likely see final decisions on a lot of the crypto ETPs in Q4. For the $XRP spot ETF, James is eyeing mid-October, around the 18th, as a final decision deadline. It’s… https://t.co/6FDIayFpHS
— Eleanor Terrett (@EleanorTerrett) April 29, 2025
In addition, popular blockchain-focused news channel Wu Blockchain informed that the agency has delayed several other crypto ETFs, including a Solana fund from Franklin and Grayscale’s Hedera ETF.
The XRP ETF delay comes just a few days after the agency approved three futures funds from ProShares. Initial reports claimed that the financial vehicles would be launched on April 30, but this information was debunked earlier today. The launch date is now set for May 14.
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