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- Bloomberg analyst James Seyffart noted that such delays align with expectations, as most ETF filings, including that of the XRP ETF, have final deadlines in October or later.
- Despite ETF delays, Jamie Coutts, Chief Crypto Analyst at Real Vision, believes the altcoin season may have already started.
The U.S Securities and Exchange Commission (SEC) has recently delayed the decision for the approval of the spot XRP ETF and the spot Dogecoin ETF to mid-June 2025. This decision comes in line with the market expectations, dragging both XRP price and DOGE price – down by over 5% each.
The SEC announced it will make its next decisions on the Bitwise DOGE ETF by June 15 and the Franklin XRP Fund by June 17, according to separate filings. Under the law, the Commission has 45 days from the announcement of a proposed rule change to approve or reject. This period can be extended to 90 days if the SEC deems additional time necessary. In its filings, the securities regulatory agency noted:
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.
A large number of altcoin ETFs are pending approval with the US SEC, including the likes of Solana, DOGE, and others. In a post on the X platform, Bloomberg Intelligence analyst James Seyffart stated that these delays are on the expected lines, as the final deadlines for most filings fall in October or later.
As mentioned in our previous news story, the Franklin Templeton XRP ETF is designed to mirror the performance of XRP tokens, providing investors with indirect exposure to the cryptocurrency without the need for direct ownership.
What Happens to Altcoin Season After XRP ETF Decision?
There have been major hopes pinned with the approval of XRP ETF this year, however, multiple delays in this have also delayed the altcoin season so far in 2025. However, some market analysts continue to remain hopeful about it even during the current market conditions.
Jamie Coutts, Chief Crypto Analyst at Real Vision, believes the altcoin season may have already begun or is in its early stages. In a recent interview with Milk Road, Coutts discussed the potential timing for a full-scale altcoin rally. While noting the challenge of pinpointing exact timing, he highlighted several indicators suggesting the market is already showing early signs of a shift.
Coutts referenced an alt season index he monitors, which measures the performance of the top 200 equal-weighted tokens compared to a market cap-weighted index. He noted the index recently reached levels last seen in late 2020, just before altcoins embarked on a significant 6- to 12-month rally. “I think we’re in it right now,” Coutts stated. “We’re seeing the very early stages.”
