The U.S. Securities and Exchange Commission has postponed its decision on Franklin Templeton's spot XRP ETF application, setting a new review deadline for June 17, 2025. The ETF, officially known as the Franklin XRP Fund, was filed through Cboe BZX Exchange and initially entered the Federal Register on March 19.

The SEC was expected to rule by May 3, but cited the need for additional time to assess the proposed rule change and address regulatory issues raised in the application.

Franklin Templeton, which manages over $1.5 trillion in assets, is the largest asset manager so far seeking approval for a spot XRP exchange-traded product.