The SEC Delays Decision on XRP and Dogecoin ETF

On May 21st, the U.S. Securities and Exchange Commission (SEC) announced on May 20th that it would postpone the decision deadlines for the XRP Trust Funds submitted by 21Shares and Grayscale, as well as the Grayscale Dogecoin Trust Fund ETF proposal. In the filing, the SEC stated that this action is based on the legal and policy issues involved in these proposals, emphasizing that this does not mean that the Commission has reached a conclusion on the relevant issues. At the same time, the SEC also postponed the decision on the Bitwise Ethereum ETF allowing staking proposal. Bloomberg Intelligence ETF analyst James Seyffart pointed out that regardless of who leads the SEC, institutions typically take full advantage of the entire approval time, with approval expected as early as late June or early July, but more likely to occur in early the fourth quarter.