The SEC postpones its verdict on Grayscale’s Dogecoin ETF, impacting the cryptocurrency’s market dynamics.
- SEC delays decision on Grayscale’s Dogecoin ETF, impacting cryptocurrency market.
- Dogecoin price drops 3.7% after delay announcement.
- Grayscale continues working with SEC on approval process.
The SEC has postponed its decision on Grayscale’s Dogecoin ETF application as of March 11, 2025, after reviewing the proposal.
This delay mirrors previous patterns seen in crypto ETF reviews, affecting Dogecoin prices while underlining market uncertainty.
SEC Announces Delay on Dogecoin ETF Decision
The SEC announced a delay regarding Grayscale’s Dogecoin ETF application. This decision follows a period of review and reflection on market dynamics.
Grayscale, led by CEO Michael Sonnenshein, has expressed confidence in their ETF proposal despite the delay. The company aims to collaborate closely with the SEC.
Dogecoin Dips 3.7% Following SEC Postponement
The announcement led to a 3.7% drop in Dogecoin’s price, reflecting short-term investor reactions. The crypto community showed mixed responses to the delay.
Market analysts highlight potential price volatility while the SEC’s cautious approach signals a complex regulatory landscape. Financial markets are closely monitoring the developments.
Experts Predict 40% Approval Chance for 2025
Similar SEC delays have occurred with Bitcoin and Ethereum ETFs, often leading to temporary market fluctuations followed by a recovery phase.
Experts like Bloomberg’s Eric Balchunas see a 40% chance of approval in 2025. The SEC’s consideration suggests openness yet caution under current leadership.
Gary Gensler, Chair, SEC, said, “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.” – SEC Rule Change: NYSE Arca, Inc. Filing
