TLDR:
SEC opens public comment on Franklin’s XRP ETF as review formally begins.
ETF aims to track the CME XRP-Dollar Index with Coinbase as the custody provider.
XRP trades lower but holds a bullish technical structure despite SEC scrutiny.
September 9 set as key deadline for SEC’s 180-day decision window.
The U.S. Securities and Exchange Commission (SEC) has moved forward with a formal review process for the proposed Franklin XRP ETF. The decision, announced on June 17, marks a major step toward determining whether XRP can enter the ETF market.
As crypto ETF filings accelerate, this review signals growing regulatory interest in altcoin-based funds. While no approval has been granted yet, the SEC’s action places XRP under increased scrutiny.
Public input will play a role in the final decision, expected later this year.
Franklin XRP ETF Proposal Under Investigation
According to a post by Generation Infinity, the Franklin XRP Trust aims to offer a physically backed XRP ETF, with custody managed by Coinbase Custody Trust.
According to the filing, the ETF would track the CF Benchmark CME XRP-Dollar Index. Shares would be created and redeemed in blocks of 50,000 under Cboe BZX Rule 14.11(e)(4), which governs commodity-based trust shares.
$XRP ETF UPDATE (June 17)
The SEC has officially opened proceedings to determine whether to approve or disapprove the proposed listing of the Franklin XRP ETF on Cboe BZX.
Here’s what it means — and the key dates you should know 
What’s Being Proposed:
– Franklin XRP… pic.twitter.com/Q5dEyWvGLe
— Generation Infinity (@GenfinityIO) June 18, 2025
The SEC received the Franklin XRP ETF proposal on March 13. It then published the filing in the Federal Register on March 19. On June 17, the agency issued an Order Instituting Proceedings to begin a deeper review under the Exchange Act.
The SEC stated it is seeking public comments, especially on whether XRP’s market structure can support accurate pricing and resist manipulation.
Officials are evaluating whether the ETF listing aligns with Section 6(b)(5) of the Exchange Act, which covers investor protection and market integrity. The next major deadline is likely to fall on September 9, 2025, marking the 180-day review window.
The agency emphasized that no decision has been made yet and the investigation aims to assess if the ETF can function within existing regulatory standards.
XRP Technical Outlook Remains Bullish
Amid the regulatory developments, technical analysts continue to see potential upside for XRP.
In a recent update, XForceGlobal pointed to an Elliott Wave pattern suggesting a bullish macro setup. The chart highlights a successful breakout from wave 4’s triangle and a consistent 1-2 pullback, both aligning with bullish expectations.
$XRP
The macro direction was met with very little margin of error. Everything from the wave 4 triangle breakout to the anticipated 1-2 pullback following the 5-wave impulse. It all followed the blueprint.
There’s no valid reason to adopt a bearish stance unless the market… https://t.co/GAfA7Ddaip pic.twitter.com/jsMUXBvfyX
— XForceGlobal (@XForceGlobal) June 18, 2025
The analysis indicates that unless key support levels are broken, the bullish scenario remains intact. The dotted path showing the ultra-bullish forecast appears to be gaining credibility as current price movements follow the expected trend.
Despite the news, XRP is trading lower at $2.14, reflecting a 2.85% drop over the past 24 hours. Data from CoinGecko also shows a 7.44% decline over the past week. However, the sentiment remains focused on potential long-term gains if the ETF secures approval.
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