SEC delays decisions on Dogecoin and XRP ETFs

The decision to delay the approval of Dogecoin (DOGE) and XRP exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) was announced late Tuesday, aligning with the predictions of analysts. The SEC specified that it will postpone making a decision on the Bitwise DOGE ETF until June 15 and on the Franklin XRP Fund until June 17, as indicated in separate filings. According to regulations, the Commission has a 45-day window from the time a proposed rule change is introduced to either accept, reject, or initiate a process to consider rejection. This period can be extended to 90 days if deemed necessary by the Commission.

Explaining the rationale behind the extension, the SEC stated in the filings that it required additional time to fully assess the proposed rule change and the associated concerns. Notably, Bloomberg Intelligence analyst James Seyffart remarked in a post that such delays are anticipated given that the final deadlines for most filings fall in October or later. Over the past 24 hours, both XRP and DOGE have experienced minimal fluctuations, mirroring the stability observed in the price of Bitcoin.

The decision to delay the approval of Dogecoin (DOGE) and XRP exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) was announced late Tuesday, aligning with the predictions of analysts. The SEC specified that it will postpone making a decision on the Bitwise DOGE ETF until June 15 and on the Franklin XRP Fund until June 17, as indicated in separate filings. According to regulations, the Commission has a 45-day window from the time a proposed rule change is introduced to either accept, reject, or initiate a process to consider rejection. This period can be extended to 90 days if deemed necessary by the Commission.

Explaining the rationale behind the extension, the SEC stated in the filings that it required additional time to fully assess the proposed rule change and the associated concerns. Notably, Bloomberg Intelligence analyst James Seyffart remarked in a post that such delays are anticipated given that the final deadlines for most filings fall in October or later. Over the past 24 hours, both XRP and DOGE have experienced minimal fluctuations, mirroring the stability observed in the price of Bitcoin.

The decision to delay the approval of Dogecoin (DOGE) and XRP exchange-traded funds (ETFs) by the U.S. Securities and Exchange Commission (SEC) was announced late Tuesday, aligning with the predictions of analysts. The SEC specified that it will postpone making a decision on the Bitwise DOGE ETF until June 15 and on the Franklin XRP Fund until June 17, as indicated in separate filings. According to regulations, the Commission has a 45-day window from the time a proposed rule change is introduced to either accept, reject, or initiate a process to consider rejection. This period can be extended to 90 days if deemed necessary by the Commission.

Explaining the rationale behind the extension, the SEC stated in the filings that it required additional time to fully assess the proposed rule change and the associated concerns. Notably, Bloomberg Intelligence analyst James Seyffart remarked in a post that such delays are anticipated given that the final deadlines for most filings fall in October or later. Over the past 24 hours, both XRP and DOGE have experienced minimal fluctuations, mirroring the stability observed in the price of Bitcoin.