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SEC delays decision on DOGE and Ripple ETFs

The SEC is taking more time to rule on two high-profile crypto funds: the Bitwise Dogecoin ETF and the Franklin XRP Fund.

By Mike Hesp
• 2 min read
SEC delays decision on DOGE and Ripple ETFs

The U.S. securities regulator is pushing back the decision on two highly talked-about crypto funds: the Bitwise Dogecoin ETF and the Franklin XRP Fund. The new deadline to decide has been set for June 16.

In a statement the regulator says: “The Commission believes it’s appropriate to set a longer period for evaluating the proposed rule change so there’s enough time to thoroughly analyze the change and the questions it raises.”

The market reacted immediately. XRP price slid 1.3%, while Dogecoin was down by nearly 2.5%.

The delay fits into a broader context of dozens of ETF filings this year with the SEC. Among them are a Tron Staking ETF, a Pengu ETF, and a fund tracking the price of Axelar (AXL), all part of this wave of requests.

This surge in filings partly reflects a shift in the SEC’s stance following the Republican victory in the US elections. Since the departure of the previously controversial chair Gary Gensler, the regulator has been more open to a looser and more constructive approach.

The recent appointment of Paul Atkins, a vocal crypto advocate, as the new SEC chair fuels hopes in the sector for more innovative and collaborative regulation.

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