Dogecoin fans hoping to see their favorite meme coin enter the world of exchange-traded funds will have to wait a little longer. The U.S. Securities and Exchange Commission (SEC) has once again postponed its decision on the spot Dogecoin ETF proposed by Grayscale Investments. For many in the crypto community, this is becoming a familiar—and frustrating—story.
This latest delay doesn’t come as a complete surprise. The SEC has been dragging its feet on dozens of ETF filings, including those tied to Dogecoin, XRP, and Solana. While the commission says it needs more time for evaluation, the repeated postponements are starting to test investor patience.
Grayscale’s DOGE ETF Stuck in Regulatory Limbo
Grayscale initially launched a Dogecoin Trust in January 2025 and followed it up with an official application for a spot DOGE ETF in March. Despite the growing popularity of crypto ETFs after the approval of Bitcoin and Ethereum spot ETFs earlier this year, altcoin ETFs are facing a slower and more cautious review process from regulators.
Currently, the SEC is set to revisit the DOGE ETF application in June, which aligns with another pending decision for the proposed XRP ETF. However, this does not necessarily indicate that an approval is imminent. According to the SEC’s filing, the commission is simply “instituting proceedings to allow for additional analysis”—a phrase that has become all too familiar in crypto circles.
Why the Delay?
Under Section 6(b)(5) of the Exchange Act, the SEC is obligated to ensure that new financial products meet standards designed to prevent fraud and protect investors. While that sounds good in theory, the extended timelines are leaving many to wonder: How long is too long?
It’s worth remembering that the road to Bitcoin ETF approval was also filled with detours. But when it finally launched, the results were impressive—billions of dollars in inflows and a sharp increase in BTC’s price. If history is any indication, regulatory caution could lead to stronger foundations for Dogecoin in the long run.
The Odds According to Polymarket
For those speculating on when the SEC might finally say yes, prediction platform Polymarket offers some clues. As of now, the odds of a Dogecoin ETF being approved before the end of July are sitting at a mere 15%, down 7% from the previous day. However, when looking further out into 2025, the picture becomes a bit more optimistic. Polymarket’s long-term odds show a 63% chance of approval later this year—hinting at growing confidence among market participants.
October Might Be the Month
Bloomberg ETF analyst James Seyffart also weighed in recently, emphasizing that there’s no conspiracy behind these delays—just a standard, bureaucratic timeline. According to Seyffart, the SEC usually takes the full amount of time allowed under its procedures, especially with 19b-4 filings. In fact, most of the key dates for current crypto ETF applications are clustered around October.
So while a June decision is the next official checkpoint, expectations are increasingly shifting toward Q4 of 2025. And unless something dramatically changes, that’s when the Dogecoin ETF might finally get the green light.
What’s Next for DOGE?
The broader crypto market has been buzzing with ETF activity, especially after the successful rollouts of Bitcoin and Ethereum products. While those have already started to bring institutional money into the space, the next wave—potentially including DOGE—could further accelerate adoption.
Until then, DOGE investors are left to ride out the volatility and hope the SEC finally picks up the pace. Whether it’s in June or October, approval for a Dogecoin ETF would mark a major milestone—not just for the meme coin, but for altcoins as a whole.
