U.S. SEC Postpones Review of Bitwise Dogecoin and Franklin XRP ETFs

April closed with a familiar message from the SEC: not yet. On the 30th, the Commission announced a delay in reviewing two high-profile ETF applications — one from Bitwise for Dogecoin, the other from Franklin Templeton for XRP.

Though decisions were originally expected in May, the deadline now stands at June 15, with the regulator noting that further evaluation is required before proceeding.

The SEC is evaluating several crypto fund proposals simultaneously, and the delayed verdicts on Dogecoin and XRP ETFs reflect a wider trend.

Other delayed applications include:

• Franklin Templeton’s application for a Solana ETF,
• Grayscale’s HBAR ETF filing,
• And updated Ethereum ETF proposals from Franklin and Fidelity, which seek to integrate staking elements into their frameworks.

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Names like Bitwise, Franklin Templeton, Grayscale, 21Shares, and CoinShares now appear across ETF filings, marking a decisive shift in how traditional finance approaches digital assets. These bids underscore a rising demand to formalize and regulate exposure to crypto at scale.

That demand is hardly abstract — Dogecoin and XRP remain retail and institutional staples, sitting comfortably in the global top 10 for both value held and volume traded.

What’s Holding the SEC Back from Approving More Altcoin ETFs?

After the landmark approval of spot Bitcoin ETFs in 2024, interest in similar products tied to other cryptocurrencies surged. Firms quickly lined up to file for altcoin ETFs — but unlike Bitcoin, these require individual review.

Though Dogecoin and Ripple draw plenty of media attention, the SEC is measuring real institutional demand — and so far, it appears underwhelming. As a result, the Commission continues to take a measured, case-by-case approach to any expansion.

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SEC delays remain a common tactic — procedural on the surface, but still reflective of deep-seated caution surrounding altcoin ETF approvals.

Yet optimism is growing. Market participants are closely watching the return of Donald Trump and his administration’s pro-crypto stance, which is already reshaping how regulators approach digital asset discussions.

Delayed, Not Denied: The Crypto ETF Race Is Still On

The SEC’s pause on Dogecoin and XRP ETFs hasn’t dimmed market hopes. These rulings could shape the future of dozens of altcoin funds now sitting in the regulatory queue. And while the agency hasn’t clarified its benchmarks, the flood of submissions says plenty about how serious the industry is about pushing forward.

Repeated delays no longer equate to institutional resistance — they reflect an evolving stance. A ‘no’ today is increasingly viewed as part of a procedural back-and-forth rather than a terminal judgment. This shift suggests that altcoins are being steadily mainstreamed, as regulators seek to embed them within existing exchange systems without disrupting financial integrity.