SEC defers XRP and Dogecoin ETF decisions until June 2025, leaving crypto investors nervous

WASHINGTON, D.C. – On May 21, 2025, the US Securities and Exchange Commission (SEC) decided to once more delay its decisions on some major cryptocurrency ETFs such as those connected to XRP and Dogecoin. The next review deadline for these proposals has now been set for mid-June 2025. The move has left investors and market analysts waiting for more clarity on the regulatory approach to alternative cryptocurrency-based financial products.

The @SECGov has delayed making a decision on Franklin Templeton’s $XRP spot ETF until June 17.

The SEC announced delays in the review of several ETF filings, including Franklin Templeton’s spot XRP ETF, which will now be reviewed until June 17, 2025, and Bitwise’s spot Dogecoin ETF, which has a new deadline of June 15, 2025. Other proposals such as the 21Shares Core XRP Trust and Grayscale’s XRP and Dogecoin Trust are also hit by the delay. The regulatory body said it needs additional time to evaluate aspects such as market structure, investor protection, and risk transparency.

The approval follows the SEC’s careful stance toward crypto ETFs, as seen with the first Bitcoin spot ETF (in January 2024) and the Ethereum ETF (in May 2025) being approved only after some legal changes and work. Bloomberg ETF analysts James Seiffart and Eric Balchunas described these delays as part of the process. Seyffart said, “These postponements are part of the normal process. We are likely to receive a final decision in October or November 2025, although approval could also come as early as late June or early July.”

The delay in the XRP ETF is particularly notable because Ripple and the SEC are still in legal trouble. By June 15, 2025, the court wants to know the status of the lawsuit which could change the SEC’s stance on XRP. People are still feeling hopeful about the market, despite the unclear situation. According to data from Polymarket, the probability of an XRP ETF being approved by the end of 2025 is 80%, while analysts estimate the probability for a Dogecoin ETF to be around 75%.

These delays make it clear that the SEC is also cautious about other altcoin ETFs, including Solana, Polkadot, and other cryptocurrency proposals. Industry experts believe the regulatory body is concerned about market volatility and investor risk, especially for assets like Dogecoin, which started as a meme but has now gained huge popularity.

Crypto investors are still hopeful, especially since the SEC finally approved Bitcoin and Ethereum ETFs. However, this extended timeline shows that the crypto industry still faces many regulatory hurdles. As the June deadlines approach, all eyes are on the SEC to see what steps it takes next regarding the future of digital asset investments.