- SEC delays Franklin’s ETF verdicts to October and November 2025
- XRP ETF decision tied to Ripple lawsuit outcome in August
- Solana ETF stalls as SEC seeks clarity on staking and redemptions
The U.S. Securities and Exchange Commission has postponed its review period on proposed Franklin Templeton spot Solana and XRP ETFs. These delays push the deadlines of the final decisions to October and November 2025, which is much later than anticipated. The agency continues to assess the proposals based on key regulatory standards under the Securities Exchange Act.
SEC Continues to Pushback on Altcoin ETFs
The SEC evaluates compliance risks on investor protection and possible market manipulation tied to these crypto-based ETFs. Franklin Templeton must tackle several technical gaps in its applications before the agency can proceed. These include transparency, an in-kind redemption process, and risk protection.
The extension of the review follows past delays on other ETF proposals, such as the Franklin Templeton’s Ethereum ETF , which is still under SEC review. The commission requires all pending crypto ETF proposals to have updated documentation and revised mechanisms. This trend indicates that the SEC is still cautious about wider use of digital assets in regulated markets.
Franklin Rempleton’s XRP ETF Woes Tied to Ripple Vs SEC Case
In the case of the XRP ETF, the extension is connected to the legal problems between Ripple Labs and the SEC. The unresolved court case impacts the approval process and has delayed the process until late 2025. The court is expected to rule in mid-August, which could affect the SEC’s final decision.
Ripple’s legal status has influenced the sentiment towards XRP as a secure and compliant investment asset in the U.S. market. Regulators will have to wait until the court makes a ruling since the ETF relies on the clarity of the XRP status. Until then, the SEC appears hesitant to approve any products tied to XRP.
Nevertheless, there is a lot of optimism among market participants on the approval of the XRP ETF. According to forecasts, there is an 88% chance of success before the end of 2025. This sentiment is based on optimism that the court will rule in its favor and regulators will cooperate in the next few months.
In the meantime, Canada has passed a spot XRP ETF, which indicates fast development in global markets. Purpose Investments will list the ETF on the Toronto Stock Exchange from June 18. This step puts Canada ahead in providing institutional exposure to XRP via regulated financial products.
Franklin Templeton’s Solana ETF
In the case of the Solana ETF, the SEC asked Franklin Templeton to file amended documents to explain staking-related risks. The SEC also requested amendments to its in-kind redemptions and investor protection procedures. These steps are part of the SEC’s attempt to curb fraud and protect U.S. investors.
Franklin Templeton will make further disclosures to facilitate the Solana ETF’s compliance with the federal securities law. The review period is extended to late October, which allows the issuer time to address the issues. Analysts are still optimistic, with a 90% chance of approval before the end of 2025.
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