The SEC has decided to delay its decision regarding the approval of the Bitwise Dogecoin ETF and Franklin Templeton's proposed XRP product until June. This postponement comes amidst a surge of interest from asset managers looking to launch altcoin exchange-traded funds (ETFs) following the successful approval of Bitcoin ETFs last year. Firms such as Bitwise, Franklin Templeton, Grayscale, and others have submitted applications to get new crypto ETFs based on various assets, aiming to take advantage of the growing popularity of cryptocurrencies. Despite the high trading activity for Dogecoin and XRP, the SEC's cautious approach reflects ongoing regulatory scrutiny in the cryptocurrency market. The decision underscores the challenges that cryptocurrencies face in securing traditional financial instruments linked to their performance, even as the market grows increasingly vibrant and competitive.

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