Latest news with #BitwiseDOGEETF
Business Mayor
21-05-2025
- Business
- Business Mayor
XRP and Dogecoin ETF rulings delayed – SEC sets June 17 deadline
SEC punted on XRP and DOGE ETFs until mid-June. XRP's market position was relatively strong, but DOGE was yet to reverse its downtrend. On the 20th of May, the U.S. Securities and Exchange Commission (SEC) delayed a decision on Grayscale's spot Ripple [XRP] and Dogecoin [DOGE] ETF (exchange-traded funds). The regulator asked for additional time to review the applications and solicit public comments until the 17th of June. In April, the agency extended the deadline for similar applications for Bitwise DOGE ETF and Franklin Templeton's XRP ETFs to mid-June. According to Bloomberg's ETF analyst James Seyffart, the delays were expected, underscoring that the earlier approval could happen in late June or early Q4 2025. 'I wouldn't expect to see them until late June or early July at absolute earliest…More likely to be in early 4Q. Almost all of these filings have final due dates in October.' Source: James Seyffart/X Market reactions ETF Stores' Nate Geraci, another ETF specialist, echoed Seyffart's stance and said , 'SEC delays several decisions today on spot XRP & DOGE ETFs, along with staking in ETH ETFs…Nothing to see here IMO.' From a market point of view, most speculators expected the DOGE and ETF approvals to happen by the end of the year, according to a +50% approval chance on Polymarket. For XRP ETF, the odds were at 84% while the expectation for a DOGE ETF greenlight was at 63%. Interestingly, for XRP, the update didn't stir much change in market positioning, especially from the supply angle. Notably, exchange reserves on Binance have dropped from 2.9 billion to 2.8 billion XRP in the past week. This meant eased selling pressure from the exchange. Read More Binance's 2023 roadmap and BNB's reaction: All you need to know On the contrary, the April recovery spiked sell pressure from 2.7B to 2.9B XRP tokens. So, the ETF delay didn't trigger sell pressure from holders at press time. Source: CryptoQuant For DOGE, however, its early May recovery lost some steam. The early May pump was followed by a sharp surge in transfer volume from $500M to over $1 billion. Source: Glassnode Since mid-May, total transfer volume, dropped from over $1B to $560 million. This meant the upward traction eased slightly and was yet to bounce back decisively even after the SEC delay. On the price chart, DOGE's short-term downtrend was still strong. But if broken, especially if BTC makes a new ATH, the memeocin could rally to $0.27.
Yahoo
30-04-2025
- Business
- Yahoo
SEC Delays Dogecoin and XRP ETF Decisions
The U.S. Securities and Exchange Commission (SEC) delayed approval decisions on spot xrp (XRP) and dogecoin (DOGE) exchange-traded funds (ETFs) late Tuesday, in line with analyst expectations. The SEC said it will wait until June 15 for the next steps for the Bitwise DOGE ETF and June 17 for the Franklin XRP Fund, separate filings show. The law says the Commission has 45 days from when a proposed rule change is announced to approve it, reject it, or start a process to decide if it should be rejected. These 45 days can be extended to 90 days if the Commission thinks more time is needed. "The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein," the agency said in the filings. Bloomberg Intelligence analyst James Seyffart said in an X post that these delays are expected as final deadlines for most filings are in October or later. XRP and DOGE are little-changed in the past 24 hours alongside flat bitcoin price action.
