- SEC Extends Review Period for Franklin’s XRP ETF Proposal Until June 17.
- Final Decision on Crypto ETFs Likely Expected Around Mid-October.
- Deliberations Signal Ongoing Regulatory Caution Over Crypto Products.
SEC Pushes Back Decision on Franklin Templeton’s XRP Spot ETF The U.S. Securities and Exchange Commission (SEC) has formally extended its timeline to rule on a proposed spot XRP exchange-traded fund (ETF) submitted by Franklin Templeton, moving the decision date to June 17, 2025. The delay was confirmed in a regulatory filing dated April 29 and highlighted by reporter Eleanor Terrett via social media on Tuesday.
The ETF application, initially filed on March 13, 2025, by the Cboe BZX Exchange, seeks to list and trade shares of the Franklin XRP Fund under the commodity-based trust shares category. This latest deferral reflects the Commission’s use of its authority under Section 19(b)(2) of the Securities Exchange Act of 1934, which allows for up to 90 days of consideration following publication in the Federal Register.
The SEC invoked a need for more time to properly review the suggested change in the rule and listen to public as well as internal concerns prior to making a final determination. This comes as anticipation around a wave of financial products linked to cryptocurrency competing for regulatory sanction heightens.
XRP ETF Verdict Not Expected Soon
Eleanor Terrett also reported that conversations with ETF analyst James Seyffart indicate that a final determination on crypto exchange-traded products, such as the XRP ETF, may take until the fourth quarter of 2025. Seyffart believes October 18 would be a soft deadline for the Commission’s final determination, but that the SEC has discretion to move ahead earlier than that.
“The SEC is likely to take its time,” Seyffart noted, “especially if the pace of dialogue and engagement around these applications remains cautious.” He emphasized that these intermediate dates are not final deadlines but part of the regulatory rhythm that often governs such high-stakes financial products.
SEC Delays XRP ETF Decision Again
The postponed announcement contributes to the general ambiguity around cryptocurrency spot ETFs in America, where regulators have been cautious so far. While multiple Bitcoin and Ethereum spot ETFs have been successful internationally, U.S. approval has been slow in coming, citing concerns over market manipulation, custody infrastructure, as well as protection of investors.
Franklin Templeton’s filing represents a significant milestone for XRP, an asset that has been slowly rebuilding its reputation over recent years amidst legal scrutiny. Industry observers think the way that the SEC treats the XRP application could serve as a precedent for other altcoin-based ETFs.
With each passing day to June 17, institutional as well as retail crypto players are gearing up for a turning point that has the potential to redesign investment opportunities in digital assets in mainstream markets.
