SEC delays decision on XRP and Dogecoin ETF

ChainCatcher news, according to The Block, the U.S. Securities and Exchange Commission (SEC) announced on May 20 that it is delaying the decision deadline for the ETF proposals submitted by 21Shares and Grayscale for the XRP trust fund as well as the Grayscale Dogecoin trust fund. The SEC stated in the documents that this move is based on the legal and policy issues involved in these proposals and emphasized that this does not mean the commission has reached a conclusion on the relevant issues. At the same time, the SEC also delayed the decision on Bitwise's proposal to allow staking for the Ethereum ETF.

Bloomberg Intelligence ETF analyst James Seyffart pointed out that regardless of who leads the SEC, institutions typically use the full approval time, and it is expected that approvals may be seen as early as the end of June or early July, but more likely in early Q4.