Markets, News The delays are anticipated as most ETF filings have ultimate deadlines in October or past, one analyst identified.
The U.S. Securities and Exchange Commission (SEC) delayed approval selections on spot xrp (XRP) and dogecoin (DOGE) exchange-traded funds (ETFs) late Tuesday, consistent with analyst expectations.
The SEC stated it’s going to wait till June 15 for the following steps for the Bitwise DOGE ETF and June 17 for the Franklin XRP Fund, separate filings present.
The legislation says the Commission has 45 days from when a proposed rule change is introduced to approve it, reject it, or begin a course of to resolve if it must be rejected. These 45 days will be prolonged to 90 days if the Commission thinks extra time is required.
“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 company stated within the filings.
Bloomberg Intelligence analyst James Seyffart stated in an X submit that these delays are anticipated as ultimate deadlines for many filings are in October or later.
XRP and DOGE are little-changed up to now 24 hours alongside flat bitcoin worth motion.
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