Highlights
- The US SEC said it will take until June 17 to grant approval or denial to Frankline's XRP ETF bid
- Like XRP, other crypto assets like Dogecoin has also seen their ETF delays
- With Paul Atkins as Chairman, optimism for approval remain high
The US Securities and Exchange Commission (SEC) has delayed its decision on Franklin Templeton’s request to launch a spot XRP exchange-traded fund (ETF). This new development leaves investors in a longer waiting period, stirring new reactions in the digital asset market.
US SEC Unveils Next Deadline for XRP ETF
American journalist Eleanor Terrett recently shared the update on X via a notice published on its website.
The notice announced an extension of the review period for Franklin Templeton’s proposed XRP ETF. The application seeks to list the ETF on the Cboe BZX Exchange and would offer direct exposure to XRP, the fifth-largest cryptocurrency by market cap.
According to the update, the original decision deadline was May 3, 45 days after the proposal was entered into the Federal Register on March 19. With this delay, the securities agency has added another 45 days to review the proposed rule change, moving the deadline to June 17.
According to the notice, no public comments have been submitted on the proposal so far.
Meanwhile, this delay aligns with the SEC’s cautious approach to crypto regulation. Earlier this year, the commission also pushed back its decision on Grayscale’s Ethereum Spot ETF Staking Proposal. The Commission will decide by June 1, 2025.
Some investors have shared their frustration online, saying the repeated delays may point to bigger issues with how the SEC handles crypto regulation.
XRP Price Holds Steady Amid US SEC ETF Delays
Since the announcement of the delay, the price of the Ripple-linked cryptocurrency has managed to hold above the $2.29 level at press time. This shows only a mild increase of 0.86% on the day.
The coin had reached a daily high of $2.32 and a low of $2.26. On the 4-hour chart, XRP continues to trade near the top of its weekly range.
However, a 46.09% dip in trading volume to $2.64 billion indicates that buying interest may be losing steam. The recent optimism following the ProShares XRP ETF news is fading.
Market watchers now question whether the SEC’s indecision could cause XRP to lose momentum.
21Shares Dogecoin ETF Re-ignite Hope For Approval
Nasdaq has filed a related development to list the 21Shares Dogecoin ETF, triggering the SEC’s formal review process. The filing follows 21Shares’ earlier submission of the 19b-4 form for the same product.
While Dogecoin’s price held steady at $0.1787, the filing highlights rising institutional interest in crypto ETFs. It also maintains optimism for the broader approval of digital asset funds under Paul Atkins as Chairman.
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