Investor hopes for Dogecoin ETF approval took a hit as the SEC pushed back its decision once again. According to Polymarket, odds of approval before July have now dropped to just 15%, reflecting growing investor skepticism.
SEC Delays Dogecoin and XRP ETF Filings
The U.S. Securities and Exchange Commission (SEC) has postponed its response to Grayscale’s spot Dogecoin ETF application. Initially filed in March 2025, the ETF has been under review for months with no official comment yet.
This delay also impacts other pending filings like those for XRP and Solana ETFs. In total, more than 70 altcoin-based ETF proposals are awaiting decisions. These ongoing delays are dampening investor sentiment across the board.
Why the SEC Is Taking Its Time
While frustrating for many, these delays are part of a routine process. The SEC must ensure that proposed ETFs meet legal requirements, including those designed to prevent fraud and protect investors under Section 6(b)(5) of the Exchange Act.
A similar path was followed before Bitcoin ETFs were approved. Despite the slow process, Bitcoin ETFs eventually saw billions in inflows and significantly boosted the coin’s value.
The next key decision date is set for June. However, even that doesn’t guarantee approval. The SEC has made it clear that additional time is being used for in-depth analysis, not necessarily as a prelude to approval.
Will Dogecoin ETF Be Approved in 2025?
Polymarket data shows just 15% odds for a Dogecoin ETF approval before July 2025, down 7% in the past 24 hours. On the other hand, odds for approval later in 2025 stand at 63%, indicating growing confidence for a longer-term green light.
Bloomberg analyst James Seyffart also chimed in via X (formerly Twitter), noting there’s no conspiracy behind the delays. He explained the SEC typically takes the full review period for 19b-4 filings, with most deadlines falling in October 2025.
“Early decisions would actually be unusual,” Seyffart said, reinforcing that the SEC’s pace is standard regardless of its crypto stance.
Altcoin ETFs May Take Time, But Not Forever
With decisions on ETFs for Dogecoin, Solana, and XRP repeatedly pushed back, many investors are understandably impatient. Still, the process mirrors how Bitcoin ETFs were handled.
In short, the Dogecoin ETF approval may not happen soon—but it’s far from off the table. If current trends continue, we could see regulatory progress later this year.
