A Groovier Take on Crypto ETF Delays
SEC Delays Rulings on XRP and Dogecoin ETFs until June 2025
Here's the lowdown on the recent mosey in crypto land:
TL;DR
The Securities and Exchange Commission (SEC) has stretched out its decision-making timeline for doggie-coins and XRP exchange-traded funds (ETFs) 'til mid-June 2025. Let's unwrap that:
- Bitwise DOGE ETF feeling salty until June 15, and Franklin XRP Fund chilling till June 17.
- Multiple grifters are filing like mad for crypto ETFs, savoring this more welcoming regulatory environment.
- New SEC Chief Paul Atkins, who's a bit of a party animal when it comes to crypto, kicked off the festivities last week.
- Final deadlines for these crypto ETF applications? Look for 'em in October 2025 or lat-er'.
The New Kid on the Block: SEC's Calendar Overhaul (For Crypto)
The SEC has been tossing out delays for its decisions on these Dogecoin and XRP ETFs, citing a need for some "me time" to consider the nitty-gritty details. And don't forget, the SEC has the power to stretch out the process up to 90 days, if they find it necessary.
Why the sudden sluggishness? Well, recenlty, we've observed a tsunami of crypto ETF applications ever since Bitcoin and Ethereum ETFs zeppelined into the scene in January 2024 and July of the same year, reispctively. Now, salamanderly types like Solana, Litecoin, and Cardano are waddling into the fray for their share of the crypto ETF action.
From Trump's Yuge Policy Shift to New SEC Boss' Positive Vibes
Underneath Trump's woolen hen sweater, the regulatory climate appears to have warmed up to crypto endeavors. Since Trump became prez in January 2025, the SEC has dismantled a hoard of lawsuits against crypto firms and tossed a shindig or two to talk about regulating the sector.
Our new SEC boss, Paul Atkins, is earning positive reviews from the crypto community. During his debut gig last week, he declared "Yippee-ki-yay" for crypto, as he foresees "monster gains" from digital assets and is colluding with lawmakers to create a level-headed regulatory framework.
As welcoming as Atkins is, it's a far cry from the grumpy old man approach taken by the SEC under the Biden admin. While they approved spot Bitcoin ETFs in January 2024 and spot Ethereum ETFs in July that year, they did so only after heavy-handed Encouragement from the bench.
XRP and DOGE: King Pins of the Crypto World
Though popular kids on the block, the question remains whether these XRP and Dogecoin ETFs will garner the same attention as their Bitcoin and Ethereum counterparts. Ethereum ETFs, which were green-lit back in 2024, haven't smashed the trading volume numbers that Bitcoin ETFs have achieved, despite Ethereum being the solid-second-place player in the crypto world.
On the same day that the delay announcements went public, Nasdaq submitted a proposal to list 21Shares' Dogecoin ETF, demonstrating continued excitement from exchanges and asset managers to expand the crypto ETF scene.
As the SEC cranks away on its reviews, crypto enthusiasts start twitching their tail, eagerly anticipating clear indications about the regulatory direction for this burgeoning sector.
- The Securities and Exchange Commission (SEC) has delayed decisions on Dogecoin and XRP exchange-traded funds (ETFs) until mid-June 2025, making the Bitwise DOGE ETF wait until June 15, and the Franklin XRP Fund wait until June 17.
- Multiple entities are filing for crypto ETFs due to the more welcoming regulatory environment, and the final deadlines for these applications could be in October 2025 or later.
- The SEC has been slow in making decisions due to an influx of crypto ETF applications since Bitcoin and Ethereum ETFs were approved in January 2024 and July of the same year, respectively.
- The new SEC Chief, Paul Atkins, who is supportive of cryptocurrency, declared "Yippee-ki-yay" for crypto and is working with lawmakers to create a balanced regulatory framework.
- Ethereum ETFs, though approved in 2024, have not achieved the same trading volume as Bitcoin ETFs, even though Ethereum is the second-place player in the crypto world, and the potential launch of a Dogecoin ETF is generating excitement within the crypto community.
