The U.S. Securities and Exchange Commission has once again delayed its decision on Grayscale’s Dogecoin and 21Shares’ XRP ETF applications. Investors had expected a decision in May, but the SEC has extended the review process for these crypto asset filings. 

The proposed Dogecoin and XRP ETFs aim to provide institutional investors with access to digital assets. 21Shares submitted its XRP ETF application in February, while Grayscale filed its Dogecoin ETF application in March, following the DOGE Trust. These applications are being evaluated under frameworks related to investor protection and anti-fraud measures. U.S. Securities and Exchange Commission has now pushed the decision date for the XRP ETF to June 17. A similar date is expected for the Dogecoin ETF. This delay does not mean the applications have been rejected, but uncertainty remains. 

Crypto ETF Approval Process and Expert Commentary 

The U.S. financial regulator approach is not limited to Dogecoin and XRP. Last week, the agency also delayed a decision on a Solana ETF application, highlighting its thorough review process for all altcoin ETFs. 

Bloomberg Senior ETF Analyst James Seyffart said delays in crypto ETFs are normal. According to him, U.S. Securities is utilizing the full process to evaluate 19b-4 filings. Specifically for XRP, Seyffart noted that early approval in June is also a possibility. 

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

Experts view the process as a security filter. The U.S. financial regulator is taking steps to protect investors and maintain transparency in the market. The involvement of major companies like Grayscale and 21Shares increases the likelihood of approval. Despite these developments, the crypto market remains calm. At the time of writing, Dogecoin is trading at $0.2264 and XRP at $2.355. An ETF approval could lead to a price increase. Investors are closely watching these updates. Ultimately, U.S. Securities and Exchange Commission delay did not create immediate pressure on the market. 

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