The SEC Delays Its Decision on Franklin Templeton's XRP Spot ETF Until June 17

The proposed XRP ETF, which was presented by international investment management company Franklin Templeton to the U.S. SEC, has been extended

The U.S. Securities and Exchange Commission (SEC) has extended the deadline for its decision on Franklin Templeton's proposed XRP ETF to June 17, 2025.

The application, filed through the Cboe BZX Exchange on March 13, 2025, seeks to list shares of the Franklin XRP Funds under BZX Rule 14.11(e)(4), a framework for Commodity-Based Trust Shares. The SEC's initial response was due on May 3, but the commission requested more time to evaluate the proposal.

This extension marks a significant moment in the integration of cryptocurrency with traditional finance. Franklin Templeton, an international investment management company with over $1.5 trillion in assets, is a prominent institution to file for an XRP-based ETF. If approved by the SEC, it would mark a substantial step in mainstream adoption for XRP in the U.S. financial markets.

The SEC has also extended its decision on Bitwise's Dogecoin ETF, which was originally due on May 1. The application, filed on March 3, 2025, through NYSE Arca, aimed to list Dogecoin-backed ETF shares under Rule 8.201 -E. The new deadline for the decision is set to be held on June 15, 2025.

The SEC stated that these extensions would provide sufficient time to perform the necessary legal and market analysis for each application. The agency's consistent use of extended deadlines reflects its measured and cautious stance toward approving digital asset ETFs. This delay also impacts the meme coin market sentiment as it signals broader regulatory hesitation toward Dogecoin entering institutional finance.

While these delays in ETF approval may appear bearish, experts like James Seyffart highlight that these decisions were largely expected. The SEC's hesitation stems from a desire to evaluate market impact, investor safety, and compliance with security laws.

According to the analyst, the SEC has started these delays, which are only intermediate, with final decisions for several ETFs, including XRP, Solana, and HBAR, potentially arriving in Q4 of 2025. Seyffart points to October 18 as a possible final deadline for the XRP ETF ruling.

Despite the growing optimism from the investors and institutions, the SEC continues to treat the matter with care. Approving these ETFs too quickly may create market volatility and regulatory backlash. The commission remains under pressure to maintain neutrality while managing more than 70 active ETF filings.