The U.S Securities and Exchange Commission opened a public review for Franklin Templeton’s XRP and Solana ETFs, which might be listed on the Chicago Board Options Exchange.
The SEC announced in separate filings on Tuesday that it was initiating procedures that might allow the US exchange to list and trade shares of the Franklin Solana ETF and the Franklin XRP ETF.
The SEC postponed its decision until Tuesday after the Cboe BZX Exchange submitted a proposed rule change to the agency in March to facilitate the approval of these investment vehicles.
“The Commission has not reached any conclusions concerning any of the issues involved,” the SEC stated in both filings, referring to the initiation of proceedings.
The financial regulator invites feedback on the proposed rule change.
The SEC’s notices will effectively extend the review period for the Franklin Templeton ETFs by 35 days, until July.
Several businesses in the crypto industry are competing to be the first to approve tokens like XRP, although the US regulator has already approved spot investment vehicles for Bitcoin.
Many asset managers have already submitted applications to the SEC to list and trade investment vehicles that provide exposure to SOL or XRP, such as Bitwise, ProShares, and 21Shares. The Trump administration and Paul Atkins, the president’s nominee to chair the SEC, have significantly altered the agency’s regulatory approach to digital assets by suspending several high-profile enforcement actions against cryptocurrency companies.
