The U.S. Securities and Exchange Commission (SEC) has delayed the approval of Ripple (XRP) and Dogecoin (DOGE) ETF applications

SEC documents show that the agency has delayed its decision on whether to approve two cryptocurrency exchange-traded funds (ETFs) that hold Dogecoin and Ripple.

According to two documents reviewed, the U.S. regulator has postponed the deadline for the listing of the two proposed ETFs to June. The documents are in response to listing applications filed in March by U.S. exchanges NYSE Arca and Cboe BZX Exchange - the former applied to list Bitwise's Dogecoin ETF and the latter applied to list Franklin Templeton's Ripple ETF. On the same day, another U.S. exchange, Nasdaq, also submitted an application to list the 21Shares Dogecoin ETF.

According to Coingecko data: Dogecoin is the world's most traded memecoin, with a market value of approximately $26 billion as of April 29. Ripple is the native token of the XRP Ledger blockchain network, with a market value of approximately $133 billion.

Applications are pouring in

In 2025, the SEC has received dozens of listing applications for altcoin ETFs. As of April 21, about 70 cryptocurrency ETFs are awaiting SEC review.

Bloomberg analyst Eric Balchunas wrote on X Platform on April 21 that asset management companies have applied for ETFs "from Ripple, Litecoin, Solana (SOL) to Penguins, Dogecoin, 2XMelania Coin, etc."

The wave of applications comes as US President Trump urges the SEC to take a more inclusive stance on cryptocurrencies.

However, analysts warn that investor demand for altcoin ETFs may be relatively tepid compared to mainstream cryptocurrency ETFs such as Bitcoin (BTC) and Ethereum (ETH).

Balchunas compared: "Getting your token ETFed is like having your band's work listed on all music streaming platforms - it doesn't guarantee the number of plays, but it allows your music to reach the vast majority of listeners."

Although US exchanges are actively embracing cryptocurrency ETFs, they have also called on the SEC to take strict supervision of digital assets. In its opinion letter on April 25, Nasdaq argued that if digital assets are essentially "securities in a different name," they should be subject to the same compliance standards as securities.