- The US SEC has delayed its determination to approve or disapprove Franklin Templeton’s utility for a spot XRP ETF.
- SEC has prolonged the interval of evaluate for the XRP ETF to June 17, 2025.
- ETF professional James Seyffart says many of the ultimate verdicts for many ETF proposals are made in October or later.
The US Securities and Alternate Fee has postponed its determination on Franklin Templeton’s proposed spot XRP exchange-traded fund.
SEC’s announcement on April 29, 2025, states that the regulator will now have till June 17, 2025.
That is the date by which it should decide on whether or not to approve or reject the XRP spot ETF.
A contemporary delay permits the company extra time to judge the Franklin Templeton proposal.
SEC postpones determination on Franklin Templeton’s XRP ETF
In keeping with the SEC’s submitting, the company requires an extended interval to evaluate Franklin Templeton’s utility, which was initially filed on March 19, 2025.
The proposal goals to record and commerce shares of the Franklin XRP Fund beneath NYSE Arca Rule 8.201-E.
SEC famous that the prolonged evaluate interval, now set at 45 days, could also be additional extended as much as 240 days from the preliminary publication within the Federal Register, doubtlessly delaying a ultimate determination till mid-October 2025.
Per the SEC’s submitting, the delay is inside the regulation and affords it time to completely study the proposed rule change and its alignment with self-regulatory group necessities.
Not fully new, the transfer aligns with a sample of cautious deliberation the SEC has adopted relating to crypto-related monetary merchandise, having taken years to approve spot Bitcoin ETFs and Ether spot ETFs.
ETF analyst on what’s subsequent?
Regardless of delays, investor demand for such crypto ETFs continues to surge.
Over the previous few months, issuers have filed over 70 proposals in search of a inexperienced gentle to record exchange-traded funds on prime altcoins. XRP, Solana, Litecoin, Hedera, and Dogecoin are among the many most extremely anticipated.
Commenting on the delay, Bloomberg ETF analyst James Seyffart mentioned he expects extra of those SEC delays this week and within the coming days.
Notably, the regulator has additionally deferred its rulings on Ethereum staking and Dogecoin ETFs.
Seyffart anticipates that ultimate deadlines for many of the ETF filings will probably be in October 2025 or later.
“I am expecting more delays today or at least this week on some Solana and Hedera/HBAR ETF filings. This is expected IMO. Final deadlines for most of this stuff is in October 2025 or later,” Seyffart famous.
