IMPORTANT POINTS:
The SEC delays the decision on Franklin Templeton's XRP spot ETF until June 17, 2025.
The main reason is the lack of XRP futures contracts on the CME, something that the SEC usually waits for before approving spot ETFs.
One possible theory suggests that the SEC might be waiting to resolve the case against Ripple before approving the ETF, to prevent a rise in XRP's price from affecting the value of the settlement.