According to a recent filing, the U.S. Securities and Exchange Commission (SEC) has postponed its deadline for deciding whether to approve or reject a few exchange-traded fund (ETF) applications tracking the price of Ripple (XRP), the fourth-largest crypto by market capitalization, and Dogecoin (DOGE), the eighth.
These include applications for the 21Shares Core XRP Trust, Grayscale XRP Trust, and Grayscale Dogecoin Trust.
XRP and DOGE ETF Delayed
Notably, the SEC is expected to release a final decision on these ETF applications 45 days after submission, which falls on May 22nd, 2025. However, the agency has noted that it needs a longer period to examine the applications and decide whether or not to approve the investment funds. Thus, the SEC seeks to extend the examination duration by 45 days, until July 6, 2025, before releasing a final decision.
In addition to the postponement, the financial watchdog has also asked for public comments on the ETF filings, encouraging interested institutions to comment on the proposal.
Concurrently, the SEC released another filing concerning the Bitwise Ethereum ETF staking proposal. According to the release, the agency also wants a 45-day extension before concluding. Thus, it is expected to announce its decision on the Bitwise Ethereum staking proposal, 21Shares Core XRP Trust, Grayscale XRP Trust, and Grayscale Dogecoin Trust applications on the same day.
Commenting on the delays, Bloomberg ETF analyst James Seyffart noted that they are expected. He added that more crypto investment fund approvals could come by the fourth quarter of the year.
Delays on spot crypto ETFs are expected. A bunch of XRP ETPs have dates in next few days.
If we’re gonna see early approvals from the SEC on any of these assets — i wouldn’t expect to see them until late June or early July at absolute earliest. More likely to be in early 4Q.
— James Seyffart (@JSeyff) May 20, 2025
Crypto ETFs in the U.S.
The world’s leading crypto, bitcoin (BTC), got its first ETF approval in January 2024. Since then, investors have poured funds into the various 11 approved investment funds, gaining indirect exposure to the crypto industry.
As the crypto market surged within the past week, spot Bitcoin ETFs have continued their five-day inflow streak. Concluding Tuesday, it recorded a $329 million inflow, as investors continue to fill their bags. In a recent filing, U.S. asset manager Blackstone revealed holding over 23,000 shares of the biggest BTC ETF, BlackRock, IBIT.
Meanwhile, BTC has recently been on an upward trajectory. It reached $108,000 on Wednesday and is less than a 2% pump away from hitting a new all-time high.
