- The US SEC has delayed its decision to approve or disapprove Franklin Templeton’s application for a spot XRP ETF.
- SEC has extended the period of review for the XRP ETF to June 17, 2025.
- ETF expert James Seyffart says most of the final verdicts for most ETF proposals are made in October or later.
The US Securities and Exchange Commission has postponed its decision on Franklin Templeton’s proposed spot XRP exchange-traded fund.
SEC’s announcement on April 29, 2025, states that the regulator will now have until June 17, 2025.
This is the date by which it will have to make a decision on whether to approve or reject the XRP spot ETF.
A fresh delay allows the agency more time to evaluate the Franklin Templeton proposal.
SEC postpones decision on Franklin Templeton’s XRP ETF
According to the SEC’s filing, the agency requires a longer period to assess Franklin Templeton’s application, which was initially filed on March 19, 2025.
The proposal aims to list and trade shares of the Franklin XRP Fund under NYSE Arca Rule 8.201-E.
SEC noted that the extended review period, now set at 45 days, may be further prolonged up to 240 days from the initial publication in the Federal Register, potentially delaying a final decision until mid-October 2025.
Per the SEC’s filing, the delay is within the law and offers it time to thoroughly examine the proposed rule change and its alignment with self-regulatory organization requirements.
Not entirely new, the move aligns with a pattern of cautious deliberation the SEC has adopted regarding crypto-related financial products, having taken years to approve spot Bitcoin ETFs and Ether spot ETFs.
ETF analyst on what’s next?
Despite delays, investor demand for such crypto ETFs continues to surge.
Over the past few months, issuers have filed over 70 proposals seeking a green light to list exchange-traded funds on top altcoins. XRP, Solana, Litecoin, Hedera, and Dogecoin are among the most highly anticipated.
Commenting on the delay, Bloomberg ETF analyst James Seyffart said he expects more of these SEC delays this week and in the coming days.
Notably, the regulator has also deferred its rulings on Ethereum staking and Dogecoin ETFs.
Seyffart anticipates that final deadlines for most of the ETF filings will 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 noted.
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