Why The Dogecoin ETF Decision Will Likely Be Delayed By The SEC
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The dogecoin ETF wave is gaining ground since the first filings made their way onto the stage at the start of the year. This has put it in a heated race with the likes of XRP, Solana, and Litecoin in a bid to become the next cryptocurrency to get the nod from the Securities and Exchange Commission (SEC). However, an approval may still be far away, as it is expected that the regulator will push back and postpone an approval or rejection of a Dogecoin ETF.
Delays Are The Order Of The Day
The SEC has acknowledged the Dogecoin ETF filings, alongside that of its competitors, but that has not stopped the regulator from pushing back its decision on the funds. Back in April, both XRP and Dogecoin ETFs saw their decisions pushed back again, putting their next deliberation date at more than a month. This has followed the trend that the regulator has taken when it comes to crypto ETFs, pushing back decisions until the last minute.
The most recent delay comes for the Litecoin ETF and this has shown how the regulator could be approaching the likes of Dogecoin ETFs. The Litecoin ETFs have been a favorite of Bloomberg analysts, with ETF expert James Seyffart giving it the highest likelihood of being approved at 90%, in an X post back in January. So, with the Litecoin ETF decision being pushed back by another month, it is expected that the Dogecoin ETF will get the same treatment.
Read More Toncoin falls below $7: $10 or $5, where will TON go next?
When it comes to approvals though, Dogecoin ETFs received the second-highest rating from the Bloomberg analyst, with a 75% possibility of getting approved this year. The next decision now being June 17 could also be postponed by the SEC, especially with nothing positive for the Litecoin ETF.
The SEC will possibly postpone the decisions for the Dogecoin ETF until the final deadline, which is on October 18, 2025. However, there is no guarantee that the Dogecoin ETFs would get a green light from the regulator, although the community remains hopeful.
Dogecoin ETF Could Trigger Price Rally
Just like the Bitcoin and Ethereum ETF approvals triggered a surge in prices, an approval for a Dogecoin ETF could have the same effect on the native DOGE token. There have been predictions of the Dogecoin price rising as high as $10 as a result, showing the level of anticipation surrounding these funds.
21Shares has also lauded Dogecoin and its potential, saying that it is no longer just a meme coin, coming off its ETF filing. The investment firm said in a report that having Dogecoin in a portfolio could be a great boost, putting it alongside Bitcoin for a well-rounded portfolio.
DOGE bulls push to break $0.18 resistance | Source: DOGEUSDT on TradingView.com
Featured image from Dall.E, chart from TradingView.com
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