SEC Delays XRP and Dogecoin ETF Decisions to Mid-June 2025 Amid Regulatory Caution

The proposed XRP ETF, which was presented by international investment management company Franklin Templeton to the U.S. SEC, has been extended. Originally filed through the Cboe BZX Exchange on March 13, 2025, the application seeks to list shares of the Franklin XRP Funds under BZX Rule 14.11(e)(4), a framework for Commodity-Based Trust Shares.

🚨NEW: The @SECGov has delayed making a decision on Franklin Templeton’s $XRP spot ETF until June 17.https://t.co/3EeRWBzBmg pic.twitter.com/BYfZJw5qWl

— Eleanor Terrett (@EleanorTerrett) April 29, 2025

The initial deadline for the decision was on May 3, but citing the need for more time to evaluate the proposal, the SEC pushed the new deadline for the XRP ETF to June 17, 2025. Franklin Templeton has over $1.5 trillion in assets and is a prominent institution to file for an XRP-based ETF. If this gets approved by the SEC, it would mark a significant step in mainstream adoption for XRP in the U.S. financial markets. 

Bitwise Dogecoin ETF Also Faces Delay

Alongside the XRP ETF, the SEC has also delayed its decision on Bitwise’s Dogecoin ETF. The application was filed on March 3, 2025, through NYSE Arca, which aimed to list Dogecoin-backed ETF shares under Rule 8.201 -E. The original response deadline of May 1 is now extended and is set to be held on June 15, 2025.

🚨NEW: The @SECGov has delayed making a decision on @BitwiseInvest’s $DOGE ETF application until June 15.https://t.co/zDrdykkqfm pic.twitter.com/yygY5ZXj8D

— Eleanor Terrett (@EleanorTerrett) April 29, 2025

According to the SEC, these extensions will give enough time to do the legal and market analysis. The agency’s consistent use of extended deadlines reflects its measured and cautious stance toward approving digital asset ETFs. This delay impacts not just the DOGE coin market sentiment but also signals broader regulatory hesitation toward meme coins entering institutional finance. 

Regulatory Caution Remains Strong

While these delays in ETF approval may appear bearish, experts argue that these decisions were largely expected. The SEC’s hesitation stems from a desire to evaluate market impact, investor safety, and compliance with security laws. According to the analyst James Seyffart, the SEC has started these delays, which are only intermediate, with final decisions for several ETFs, including XRP, Solana, and HBAR, potentially arriving in Q4 of 2025. He points to October 18 as a possible final deadline for the XRP ETF ruling. Despite the growing optimism from the investors and institutions, the SEC continues to treat the matter carefully. Approving these ETFs too quickly may create market volatility and regulatory backlash. The commission remains under pressure to maintain neutrality while managing more than 70 active ETF filings. 

Market Impact and Community Response

As of April 30, 2025, the XRP ETF price is showing notable movement in the market; it is currently trading for $0.011114. The token has shown an 11.23% decrease over the past 24 hours; this downward momentum comes amid the U.S. Securities and Exchange Commission (SEC) decision to postpone its ruling on the Franklin Templeton XRP ETF proposal. Despite this, the current market capitalization of the XRP ETF is $47,700, reflecting a modest but steady growth trend. Although the trading volume remains limited, the token’s strong daily percentage gain suggests that the traders are positioning themselves ahead of the SEC’s mid-June decision, anticipating a potential surge if approval goes in its favor. 

XRPETF/USD chart, published on CoinMarketCap, April 30, 2025

Although the market didn’t react strongly to the delays made by the SEC in approving the assets, the crypto community remains divided. SEC crypto regulation and the optimism surrounding the ETF approvals, especially after the realization of an XRP ETF in Brazil, have driven speculations. There were false rumors that resulted in short-term price fluctuations and investors getting confused. However, these delays didn’t crush the long-term hopes, with October now viewed as the worst-case scenario if the decision is shifted to that month.