The Securities and Exchange Commission (SEC) delayed the approval decision for Spot XRP (XRP) and Dogecoin (Doge) Exchange-Traded Funds (ETFs) late Tuesday, in line with analysts’ expectations.
The SEC said it will wait until June 15 for the next step in the Bitise Doge ETF and another filing show for the Franklin XRP Fund.
The law says there will be 45 days after the committee was announced to begin the process of determining whether proposed rules changes should be approved, denied or denied. If the committee believes it needs more time, these 45 days can be extended to 90 days.
“The Commission believes it would be appropriate to specify a longer period to address changes to proposed rules, so there is sufficient time to consider changes to proposed rules and the issues raised therein,” the agency said in its submission.
Bloomberg Intelligence analyst James Seyfert said in a post on X that these delays are expected to be the final deadline for most filings after October.
XRP and Doge have little change over the past 24 hours, along with flat Bitcoin price action.