SEC Delays Decisions on Dogecoin and XRP ETFs—Could This Trigger an Altcoin Season?

According to Bloomberg analyst James Seyffart, the recent delays are consistent with what was anticipated, since the majority of ETF applications, including the XRP ETF, have deadlines set for October or later. In spite of these ETF delays, Jamie Coutts, Chief Crypto Analyst at Real Vision, suggests that the altcoin season might already be underway. The U.S. Securities and Exchange Commission (SEC) has postponed its decision on approving the spot XRP ETF and the spot Dogecoin ETF until mid-June 2025. This choice aligns with market anticipations, causing the prices of both XRP and DOGE to fall by more than 5% each. The SEC revealed it would announce its upcoming decisions regarding the Bitwise DOGE ETF by June 15 and the Franklin XRP Fund by June 17, based on separate documents. According to the law, the Commission has a 45-day period following the announcement of a proposed rule change to either approve or deny it. The SEC can extend this period to 90 days if they find that more time is required. In its submissions, the financial regulatory body highlighted: The Commission believes it is necessary to extend the timeframe for reviewing the proposed rule change to allow ample opportunity to evaluate it and the related concerns. Numerous altcoin ETFs are awaiting approval from the US SEC, including those associated with Solana, DOGE, and several others. In a recent update on the X platform, Bloomberg Intelligence analyst James Seyffart indicated that the current delays are within anticipated expectations since most filing deadlines are set for October or later. As noted in our earlier report, the Franklin Templeton XRP ETF aims to replicate the performance of XRP tokens, allowing investors to gain indirect access to the cryptocurrency without directly owning it. What will the impact be on the Altcoin Season following the XRP ETF verdict? Significant expectations have been set regarding the approval of the XRP ETF this year; however, the numerous delays in the process have postponed the altcoin season for 2025.