SEC Delays Decision on Whether to Approve Listing of Franklin Templeton's XRP ETF, Extending Review Period by 45 Days

The U.S. Securities and Exchange Commission (SEC) has delayed a decision on whether to approve the listing of Franklin Templeton's proposed exchange-traded fund (ETF) tied to XRP

The U.S. Securities and Exchange Commission (SEC) has pushed back its decision on whether to approve the listing of Franklin Templeton’s proposed exchange-traded fund (ETF) linked to XRP.

The SEC announced Tuesday it will defer its ruling on Cboe BZX Exchange’s proposal to list and trade shares of the Franklin XRP Fund, a commodity-based trust tied to the cryptocurrency XRP. The commission cited the need for additional time to assess the filing, pushing the deadline from May 3 to June 17, 2025.

Cboe BZX initially submitted the proposed rule change on March 13, seeking to list the ETF under its commodity trust share guidelines. The SEC published the filing for public comment on March 19, but received no feedback during the review period. Federal law grants the regulator up to 90 days to approve, deny, or initiate proceedings to reject such proposals.

This marks the latest regulatory hurdle for crypto-linked investment products, which are facing heightened scrutiny over market stability and investor protections. In a separate filing, the SEC also extended its review of Bitwise Asset Management’s application to launch a Dogecoin ETF, delaying that decision to June 15.

Both extensions reflect the agency’s cautious approach to cryptocurrency-based financial instruments amid evolving market risks. SEC officials did not elaborate on the specific concerns but mentioned that the extensions will ensure “sufficient time to consider the proposed rule changes.” Many believe, however, with the Trump administration in office, these types of funds will eventually be approved.

The delays could signal deeper regulatory reservations or technical evaluations of custody and liquidity frameworks. The decisions come as the crypto industry is intensifying efforts to offer mainstream investment products tied to altcoins, although regulatory approvals remain uncertain.