SEC Delays XRP and Dogecoin ETFs: Will They Ever Get Approved? 🤔

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  • SEC has decided to play a game of “let’s wait and see” with XRP and DOGE ETFs until mid-June. 🙄
  • XRP is flexing its muscles in the market, while DOGE is still trying to find its groove. 💪🐶

So, on the 20th of May, the U.S. Securities and Exchange Commission (SEC) decided to hit the snooze button on Grayscale’s spot Ripple [XRP] and Dogecoin [DOGE] ETF (exchange-traded funds). Because who doesn’t love a good delay, right? 😅

The regulator, in its infinite wisdom, asked for more time to review the applications and gather public comments until the 17th of June. Because, obviously, they have nothing better to do. 🙃

In April, they extended the deadline for similar applications for Bitwise DOGE ETF and Franklin Templeton’s XRP ETFs to mid-June. Because why not keep everyone on the edge of their seats? 🎢

According to Bloomberg’s ETF analyst James Seyffart, the delays were as expected as Monday morning. He hinted that we might see some action in late June or early Q4 2025. So, mark your calendars, folks! 📅

“I wouldn’t expect to see them until late June or early July at absolute earliest…More likely to be in early 4Q. Almost all of these filings have final due dates in October.”

Market Reactions

ETF Stores’ Nate Geraci, another ETF specialist, echoed Seyffart’s sentiments and said,

“SEC delays several decisions today on spot XRP & DOGE ETFs, along with staking in ETH ETFs…Nothing to see here IMO.”

From a market perspective, most speculators were betting on the DOGE and ETF approvals happening by the end of the year, with a +50% approval chance on Polymarket. Because who doesn’t love a good gamble? 🎰

For XRP ETF, the odds were at a whopping 84%, while the expectation for a DOGE ETF green light was at 63%. Interestingly, the XRP update didn’t cause much of a stir in market positioning, especially from the supply angle. 🧐

Notably, exchange reserves on Binance have dropped from 2.9 billion to 2.8 billion XRP in the past week. This means less selling pressure from the exchange. So, yay for XRP holders! 🎉

On the flip side, the April recovery spiked sell pressure from 2.7B to 2.9B XRP tokens. So, the ETF delay didn’t trigger sell pressure from holders at press time. Talk about a rollercoaster! 🎢

For DOGE, however, its early May recovery lost some steam. The early May pump was followed by a sharp surge in transfer volume from $500M to over $1 billion. But now, it seems like the party is over. 🎉🚫

Since mid-May, total transfer volume has dropped from over $1B to $560 million. This means the upward traction eased slightly and is yet to bounce back decisively even after the SEC delay. Talk about a buzzkill! 😩

On the price chart, DOGE’s short-term downtrend is still strong. But if it breaks, especially if BTC makes a new ATH, the meme coin could rally to $0.27. Fingers crossed! 🤞

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2025-05-21 22:29