Market News

SEC Delays Dogecoin ETF Decision Amidst Ongoing Market Speculation

On May 20, the U.S. Securities and Exchange Commission (SEC) announced a delay in its decision on the proposed exchange-traded funds (ETFs) for Dogecoin (DOGE) and XRP.

The SEC has set a new deadline of June 17 to review these applications and collect public comments, adding to the suspense surrounding the approvals.

While the agency previously extended deadlines for similar applications, analysts speculate that approvals might not come until late June or even early Q4 2025.

Market sentiments vary, with chances of DOGE ETF approval currently at around 63% according to Polymarket, though XRP ETF odds are significantly higher at 84%.

Interestingly, despite the delay, XRP's market conditions remained stable, with little change in supply pressure noted from exchanges.

Conversely, DOGE saw a fluctuation in transfer volumes, indicating a possible decline in upward momentum after an early May surge.

The recent lawsuit against Unicoin for securities fraud has further underscored the SEC's rigorous regulatory approach, which may influence future crypto investments.

As Bitcoin rallies to new heights, altcoins like DOGE are drawing interest from investors keen on exploration opportunities.

The evolving landscape under new SEC leadership may bring more clarity to crypto regulations, impacting future strategies in the sector.

Investors are advised to keep a close watch on SEC developments, as these decisions could significantly influence the crypto market's trajectory.