$XRP ETF SEC Delays Franklin Templeton Decision – Key Analysis

The United States Securities and Exchange Commission (SEC) has indicated that it requires additional time to render a decision regarding the approval or rejection of Franklin Templeton's proposal for a spot XRP exchange-traded fund (ETF).

This recent development extends the waiting period for investors and has elicited fresh responses within the digital asset market.

US SEC Unveils Next Deadline for $XRP ETF

Eleanor Terrett, an American journalist, recently provided an update on X through a notice released on its website.

The notice detailed an extension of the review period for Franklin Templeton's proposed XRP ETF, which aims to list the ETF on the Cboe BZX Exchange, thereby offering direct exposure to XRP, the fifth-largest cryptocurrency by market capitalization.

The update indicated that the initial decision deadline was set for May 3, which was 45 days following the proposal's entry into the Federal Register on March 19.

With this extension, the securities agency has granted an additional 45 days for the review of the proposed rule change, pushing the deadline to June 17.

The notice also mentioned that no public comments have been received regarding the proposal thus far.

This delay is consistent with the SEC's cautious stance on cryptocurrency regulation, as evidenced by its earlier postponement of the decision on Grayscale's Ethereum Spot ETF Staking Proposal, with a new deadline set for June 1, 2025.

Some investors have expressed their dissatisfaction online, suggesting that the ongoing delays may indicate larger issues regarding the SEC's approach to cryptocurrency regulation.

$XRP Price Holds Steady Amid US SEC ETF Delays

Following the announcement of the delay, the price of the Ripple-associated cryptocurrency has successfully maintained a position above the $2.29 mark as of the current reporting time. This reflects a modest increase of 0.86% for the day.


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