According to updates shared earlier in the day, the SEC will need at least a couple more months before it decides on the slate of spot ETF submissions before the regulator.
The SEC delayed making a verdict on the Franklin Templeton-linked spot XRP ETF until June 17, 2025, according to a newly released notice. According to Eleanor Terrett, on April 29, 2025, the SEC released a notice that revealed it needed additional time to evaluate Franklin Templeton’s proposed spot XRP ETF, also known as the Franklin XRP Fund.
The SEC delayed its verdict on the Franklin Templeton-linked spot XRP ETF until June 17, 2025. Source: SEC
According to the documents, the financial watchdog has now extended the review period by an additional 45 days, postponing its decision until June 17, 2025.
This is standard procedure, and even though it only added an extra 45 days, the SEC is allowed to extend the reviews by up to 240 days from the initial publication in the Federal Register. In essence, there could still be more pain on the way for impatient speculators.
The application was originally filed on March 13 and published in the Federal Register on March 19. If approved, the ETF will track the spot price of XRP, with assets custodied by Coinbase Custody.
Shares would trade on the Cboe BZX Exchange, and the fund’s net asset value will be determined with the CME CF XRP-Dollar Reference Rate.
According to Eleanor Terrett, who spoke to ETF analyst James Seyffart, the dates listed in the notice are all “intermediate.” In fact, Seyffart believes the $XRP spot ETF could be approved by mid-October with a final decision deadline set for October 18.
“It’s possible the SEC won’t take all that time to make its decision, but a lot will hinge on how actively they engage on the applications,” Terrett wrote on X.
The SEC postpones decisions on other ETF applications
The SEC delayed its decision on other ETF applications besides the Franklin Templeton XRP ETF. There are also other XRP ETF applications, including those from Grayscale, Canary Capital, Bitwise, WisdomTree, CoinShares, 21Shares, ProShares, and Volatility Shares, but none of them have been approved yet.
Aside from the XRP ETF applications, the agency has also delayed making a decision on Bitwise’s DOGE ETF application until June 15.
The SEC’s actions have triggered mixed reactions on social media with a majority unsure whether to get mad or remain optimistic about the ETFs.
The agency is known for cautiously deliberating on crypto-related ETFs, as seen with the spot Bitcoin and Ethereum ETFs, which took years to approve. However, that was under the Gary Gensler administration. The SEC has come under new leadership with Paul Atkins, and many expect it to move more quickly and positively.
There are now over 70 ETF proposals for altcoins like Solana, Litecoin, Hedera, and Dogecoin waiting for the SEC’s review. Not all will be approved but some, like the XRP ETF, have been deemed inevitable by people in the know.
