Dogecoin and XRP ETF Delayed by SEC as Public Feedback Is Sought

Dogecoin and XRP ETF Face SEC Delays; Public Comments Requested

The U.S. SEC has once again delayed its statement on proposed crypto exchange-traded funds (ETFs), emphasising on altcoins, XRP and Dogecoin. These delays are part of a broader trend where the commission uses the full time allowed under law to carefully review applications.

Which ETFs Are Affected?

The delay in decision has affected three major proposals:

• Grayscale Dogecoin 

• 21Shares Core XRP ETF

• Grayscale XRP 

These ETFs help traders access XRP and Dogecoin without taking ownership of the currency. Approval would allow them to be listed on main American stock exchanges, Arca if through Grayscale and Cboe if through 21Shares.

Each ETF would consider particular price indexes. For instance, Dogecoin by Grayscale would follow the Price Index of this particular coin by Coindesk. On the other hand, the XRP would consider the XRP Price Index by the same platform. 

Why the Delay?

In filings published Tuesday, the SEC announced it was “instituting proceedings” to further review the proposals. This move does not need to be considered as a rejection. It gives the commission more time to assess whether these ETFs follow rules under Exchange Act Section 6(b)(5). It makes sures that markets are fair, prevent fraud, and safeguard investors’ interest.

The commission is now requiring the public to share insights on the ETF proposals. Public will have 21 days from the point of publication in the Federal Register to submit respective comments. Rebuttals are allowed within 35 days. This input from the public is a general part of the ETF review procedure.

Expert Insight on the Timeline

ETF analyst James Seyffart from Bloomberg Intelligence said that these kinds of delays are expected. According to him, the SEC usually takes the full 240-day window for a decision. While some are hopeful for early approvals, Seyffart noted that such fast-tracking is rare.

"All of these filings have final dates for decision in October. Early decisions would be out of the norm,” Seyffart said on X (formerly Twitter). He added that even if the current SEC leadership is more crypto-friendly, delays are still likely due to the cautious legal process.

Source: James Seyffart

SEC Also Delays Solana ETF Decisions

In addition to these two ETFs, the SEC has also delayed decisions on two Solana (SOL) ETF proposals from 21Shares and Bitwise. Like the others, these are now under extended review as the commission opens proceedings to determine if they meet all legal requirements.

This follows another recent delay involving Bitwise’s Ethereum ETF, which includes a staking feature. The SEC is still considering whether that setup aligns with regulatory standards.

What This Means for Investors

While the SEC approved spot Bitcoin ETFs in January and recently gave the green light to Ethereum ETFs, it’s still being very cautious with altcoin-based funds. This includes products based on XRP, Dogecoin, Solana, and others like Cardano and Litecoin.

For now, corporate organisations and investors are required to wait till Quarter 3 or Quarter 4 of 2025 for a final statement. The bunch of pending applications demonstrates strong interest, but approval deadlines remain unclear.

Still, industry experts say this could be a step toward broader crypto Exchange Traded Funds adoption in the future.