XRP news today: SEC Delays Dogecoin, XRP ETF Decisions Until June

The U.S. Securities and Exchange Commission (SEC) has delayed its decision on two proposed cryptocurrency exchange-traded funds (ETFs) that would hold Dogecoin (DOGE) and XRP. The new deadlines for these decisions are set for June 15 and June 17, respectively. The filings respond to March proposals by NYSE Arca and Cboe BZX Exchange to list ETFs from Bitwise and Franklin Templeton. The SEC's decision to extend the review period comes as part of a broader trend of regulatory scrutiny over cryptocurrency-related financial products.

The delay in decision-making on these ETFs is not an isolated incident. The SEC has been fielding requests to authorize dozens of altcoin ETFs for U.S. listing, with approximately 70 crypto ETFs awaiting review as of April 21. This influx of proposals coincides with calls from some quarters for a more accommodating stance toward cryptocurrencies. However, analysts caution that investor interest in altcoin ETFs may be lower compared to funds holding core cryptocurrencies such as Bitcoin (BTC) and Ether (ETH).

The SEC's decision to delay these ETFs is part of a broader regulatory approach that seeks to balance innovation with investor protection. The commission has been urging exchanges to hold digital assets to the same compliance standards as securities if they constitute "stocks by any other name." This regulatory posture reflects a cautious approach to integrating cryptocurrencies into traditional financial markets, ensuring that investor protections are in place before new products are approved.

The delay in decision-making on these ETFs is significant for several reasons. Firstly, it underscores the SEC's commitment to thorough review and due diligence in approving new financial products. Secondly, it highlights the growing interest in altcoin ETFs, despite the regulatory challenges they face. Finally, it suggests that the SEC is taking a measured approach to integrating cryptocurrencies into traditional financial markets, ensuring that investor protections are in place before new products are approved.

The SEC has pushed out its decisions on the spot ETF applications until June of this year. Specifically, the regulator said it will wait until June 15 to issue a decision on the Bitwise Dogecoin ETF, and June 17 to render a decision on the Franklin XRP Fund. In delaying its decision, the SEC said it needs more time to evaluate the proposed crypto ETFs. Many analysts had expected the delays, noting that final deadlines for most ETF filings are in October or late in the year.

The SEC says that it has been inundated with spot ETF applications for cryptocurrencies such as XRP, Dogecoin and Solana (SOL) since U.S. President Donald Trump returned to the White House. President Trump has vowed to loosen the rules and governance of cryptocurrencies, and to make America the crypto capital of the world. Spot ETFs track the price movements of various securities such as crypto.