Last Updated on May 21, 2025
Key Takeaways
- The U.S. SEC has delayed its decision on spot ETFs for XRP and Dogecoin.
- Applications from 21Shares (XRP) and Grayscale (DOGE) are now under extended review.
- New decision deadlines are set for mid-June 2025.
- Both tokens saw minor price increases following the news.
- Analysts expect continued caution but remain optimistic about altcoin ETF approvals.
Introduction
The U.S. Securities and Exchange Commission (SEC) has once again deferred its verdict on two major altcoin ETF proposals — one for XRP and the other for Dogecoin — extending a regulatory pattern that has already impacted several crypto fund applications in 2025. Though not a rejection, the delay signals the SEC’s meticulous approach to integrating altcoin-based ETFs into traditional markets.
ETF Overview: XRP and DOGE in Focus
The two ETF filings in question include:
- 21Shares Core XRP ETF – Filed in February, this product aims to provide institutional exposure to XRP via the Cboe BZX Exchange.
- Grayscale Dogecoin ETF – An evolution of Grayscale’s previous DOGE Trust, this spot ETF is designed to expand the firm’s portfolio beyond Bitcoin and Ethereum.
These funds, if approved, would allow investors to gain regulated exposure to XRP and DOGE without holding the underlying assets directly.
New Timeline and Regulatory Concerns
The SEC has now set June 15, 2025, as the deadline for the Dogecoin ETF decision and June 17, 2025, for the XRP ETF.
According to the commission, more time is needed to evaluate:
- Compliance with the Exchange Act
- Risks related to fraud, manipulation, and investor protection
- Structural and custody elements related to altcoin-backed ETFs
This aligns with the SEC’s legal ability to extend the standard 45-day review period to 90 days or more, especially for novel crypto asset classes.
Market Reaction and Price Action
Despite the regulatory pause, both assets saw modest gains:
- XRP: $2.355 (+1.66% in 24h)
- DOGE: $0.2264 (+0.75% in 24h)
Traders and analysts interpreted the delay as neutral rather than negative, with optimism remaining for eventual approvals later this year.
Analyst Insight: Delays Are Standard
Bloomberg ETF analyst James Seyffart noted that delays are to be expected — particularly for altcoin products. He emphasized that these ETF proposals remain “in the pipeline,” with final SEC decisions likely stretching into Q4 2025.
SEC Leadership Impact
The crypto industry is closely monitoring SEC Chair Paul Atkins, whose regulatory stance has been more progressive than his predecessors. Under his leadership, the agency has dropped several enforcement actions and opened more public dialogue on altcoin ETFs — signaling a potential shift in long-term policy.
Final Thoughts
While the SEC’s mid-June decision delay on XRP and Dogecoin ETFs may feel like déjà vu, it reflects a broader narrative: altcoins are nearing institutional recognition, but the regulatory framework is still catching up. For investors, these ETFs — if approved — could unlock a new wave of capital into XRP and DOGE. Until then, all eyes remain on the SEC’s next move.
Disclaimer
This article is for informational purposes only and does not constitute financial or investment advice. Trading or investing in cryptocurrencies involves substantial risk and may result in the loss of capital. Always perform your own research and consult with a licensed financial advisor before making investment decisions. The publisher assumes no liability for financial losses resulting from information presented herein.
