The SEC has formally delayed decisions on both XRP and Solana spot ETF applications. Here’s what’s going on:
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🛑 What Did the SEC Do?
• The SEC opened a public comment period for Franklin Templeton’s proposed XRP and Solana ETFs, effectively pushing the decision deadline into late July 2025, with possible further extensions .
• This formal “institution of proceedings” is a procedural delay—not a thumbs-up or thumbs-down—allowing more time for review and external feedback .
• Another source noted that the SEC’s review has been extended by “several weeks” to collect public input and conduct internal due diligence .
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📅 Updated Timeline
• New SEC deadline: Late July 2025 (some reports specify July 22) .
• August 15, 2025: Key date for legal updates in the Ripple v. SEC case, which may influence the XRP ETF outcome .
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🔍 Why This Matters
• Procedural move, not rejection. The SEC’s delays are typical for altcoin-based ETFs; Bitcoin and Ethereum were expedited first .
• Analysts (e.g. James Seyffart) see the delays as neutral to slightly positive, with odds of approval still high—XRP ~85–89%, Solana ~90–91% .
• Institutional interest is strong: the launch of altcoin ETFs could trigger significant capital inflows, similar to recent Bitcoin and Ethereum ETF growth .
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🌐 Meanwhile, in Canada…
Canada’s Purpose Investments just launched the first spot XRP ETF, available in multiple currency classes on the Toronto Stock Exchange—an early mover advantage .
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✅ Bottom Line
• ✅ Delays are official but procedural.
• 🗓 Expect updates by late July, with legal clarity by mid‑August.
• 📈 Approval is plausible, not imminent—still a few weeks away.
• 🌍 Global expansion continues: Canada has already approved its spot XRP ETF, highlighting divergent regulatory approaches.
