Wall Street regulator the U.S. Securities and Exchange Commission (SEC) has delayed approval of spot XRP (XRP) and Dogecoin (DOGE) exchange-traded funds (ETFs).
The SEC has pushed out its decisions on the spot ETF applications until June of this year.
Specifically, the regulator said it will wait until June 15 to issue a decision on the Bitwise Dogecoin ETF, and June 17 to render a decision on the Franklin XRP Fund.
In delaying its decision, the SEC said it needs more time to evaluate the proposed crypto ETFs.
Many analysts had expected the delays, noting that final deadlines for most ETF filings are in October or late in the year.
The SEC says that it has been inundated with spot ETF applications for cryptocurrencies such as XRP, Dogecoin and Solana since U.S. President Donald Trump returned to the White House.
President Trump has vowed to loosen the rules and governance of cryptocurrencies, and to make America the “crypto capital of the world.”
Spot ETFs track the price movements of various securities such as crypto.
