SEC Extends Review Period for Franklin Templeton's Solana & XRP ETF

Highlights

SEC extends review of Franklin Templeton's Solana & XRP ETFs, pushing decisions to late 2025.
XRP ETF delay aligns with Ripple's ongoing case, but Canadian approval for a spot XRP ETF is set for June 18.
Solana ETF faces SEC scrutiny over staking, but analysts forecast a 90% chance of approval by 2025.

.The U.S. Securities and Exchange Commission (SEC) has announced an extension for its review period of Franklin Templeton’s proposed spot Solana (SOL) and spot XRP Exchange-Traded Funds (ETFs). This delay comes as the SEC seeks further analysis on both proposals, which now have new deadlines for decision-making.

The SEC’s review of these ETF applications, which includes evaluating market protection and compliance issues, has been extended into the fall of 2025.

Franklin Templeton’s Solana & XRP ETF Delayed

The SEC’s review process for Franklin Templeton’s proposed spot Solana and XRP ETFs has been extended, with new decision deadlines set for later in 2025. Originally expected to conclude in mid-2025, the agency has now extended the decision deadlines for both applications to the end of the year.

This extension is part of the SEC’s broader effort to ensure compliance with the Securities Exchange Act and evaluate these ETFs in light of regulatory requirements, including concerns about market manipulation and investor protection.

This delay follows a similar move for Franklin Templeton’s Ethereum ETF , which was also postponed for further review.

Ongoing Legal Challenges Affecting XRP ETF Review

With the spot XRP ETF one of the reasons that the development is stalled is due to legal battles between Ripple Labs and the SEC. These lawsuits, especially the results of the still ongoing case against Ripple and the SEC, are likely to play a huge role in the decision made by the SEC. The court decision is currently likely to take place by August 15, and many expect that the ultimate decision on the ETF will also be affected by the outcome of this case.

Despite these ongoing legal matters, market participants remain cautiously optimistic about the likelihood of an XRP ETF approval in the future. According to platforms like Polymarket, there is an 88% probability that an XRP ETF will be approved by the end of 2025, assuming no major setbacks in the ongoing court proceedings.

Meanwhile, while the SEC has postponed its decision on the proposed spot XRP ETF, Canada is moving forward with its plans. Purpose Investments, a Canadian firm, is set to launch the first spot XRP ETF on the Toronto Stock Exchange on June 18.

SEC Focuses on Staking and Investor Protection for Solana ETF

The SEC has also delayed the approval of a proposed Solana ETF created by Franklin Templeton, where further filings need to be done to address issues with staking mechanisms and other investor protection mechanisms.

SEC had ealierlasked issuers such as Franklin Templeton to re-file to provide information on in-kind redemptions as well as staking mechanics. These amendments are a move by the SEC to maintain that the proposed ETFs meet the criteria of investor protection and prevention on fraud.

Sentiment among investors about the Solana ETF is also upbeat, with Bloomberg analysts estimating a 90 percent likelihood of it being approved before the year 2025 ends. This is a bullish sentiment that suggests an increasing interest in the cryptocurrency Solana and a more welcome regulatory climate in the United States

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Kelvin Munene Murithi

Kelvin Munene is a crypto and finance journalist with over 5 years of experience, offering in-depth market analysis and expert commentary . With a Bachelor's degree in Journalism and Actuarial Science from Mount Kenya University, Kelvin is known for his meticulous research and strong writing skills, particularly in cryptocurrency, blockchain, and financial markets. His work has been featured across top industry publications such as Coingape, Cryptobasic, MetaNews, Cryptotimes, Coinedition, TheCoinrepublic, Cryptotale, and Analytics Insight among others, where he consistently provides timely updates and insightful content. Kelvin’s focus lies in uncovering emerging trends in the crypto space, delivering factual and data-driven analyses that help readers make informed decisions. His expertise extends across market cycles, technological innovations, and regulatory shifts that shape the crypto landscape. Beyond his professional achievements, Kelvin has a passion for chess, traveling, and exploring new adventures.

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