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XRP news today: SEC Delays Dogecoin,XRP ETF Decisions Until June
Generated by AI AgentCoin World
Tuesday, Apr 29, 2025 5:01 pm ET1min read
The US Securities and Exchange Commission (SEC) has delayed its decision on two proposed cryptocurrency exchange-traded funds (ETFs) holding Dogecoin and XRP. The regulator has pushed back the deadline for ruling on the proposed ETF listings until June, according to filings reviewed.
The filings were responses to March requests from US exchanges NYSE
and Cboe BZX Exchange to list Bitwise’s Dogecoin (DOGE) ETF and Franklin Templeton’s XRP (XRP) ETF, respectively. These requests came on the same day that Nasdaq asked for permission to list a 21Shares Dogecoin ETF.Dogecoin, known for its volatile nature and strong community support, has a market capitalization of around $26 billion. XRP, the native token of the XRP Ledger blockchain network, has a market capitalization of approximately $133 billion.
The SEC's decision to postpone these ETFs reflects its cautious approach to evaluating cryptocurrency-based financial products. The regulator is meticulous in ensuring that these products meet stringent criteria for investor protection and market integrity.
The delays in these ETF decisions highlight the ongoing regulatory challenges faced by the cryptocurrency industry. While the industry continues to grow and innovate, regulatory bodies like the SEC are working to establish clear guidelines and standards to ensure the safety and stability of the market.
The impact of these delays on the broader cryptocurrency market remains to be seen. Investors and industry participants will be closely watching the SEC's decisions, as they could set important precedents for the future of cryptocurrency-based financial products.
The delays also underscore the need for continued dialogue and collaboration between regulators and the cryptocurrency industry to foster a regulatory environment that supports innovation while protecting investors.
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