SEC Delays Approval of Multiple Spot Crypto ETFs, Market Sentiment Under Test

The U.S. Securities and Exchange Commission (SEC) has recently postponed its approval decisions for several spot cryptocurrency ETFs, including the XRP spot ETF application submitted by Franklin Templeton, with a new review deadline of June 17, 2025. Additionally, spot ETF applications submitted by institutions such as Grayscale, Canary Capital, and VanEck for Solana, Dogecoin, and Cardano have also experienced delays.

Despite the market's optimistic outlook regarding the approval of these ETFs, the SEC's cautious stance and complex approval process remain significant obstacles. Analysts indicate that these delays may be procedural and do not necessarily imply that final rejections are forthcoming. However, the frequent postponements have impacted market sentiment, with XRP's price dropping by 2.43% following the announcement of the delay.

Investors should pay attention to regulatory dynamics and market developments, carefully assessing investment risks.