US SEC Delays Decision on Franklin Templeton's XRP Spot ETF

This new development leaves investors in a longer waiting period, stirring new reactions in the digital asset market.

The U.S. Securities and Exchange Commission (SEC) has pushed back its decision on Franklin Templeton’s request to launch a spot XRP exchange-traded fund (ETF). This new development extends the waiting period for investors and sparks further discussion in the digital asset market.

Next Deadline for XRP ETF Announced

Eleanor Terrett shared the update on X. According to a notice published on Friday, the Commission has extended the review period for the proposed ETF, which would be listed on the Cboe BZX Exchange and offer direct exposure to XRP, the fifth-largest cryptocurrency by market cap.

The application drew attention earlier this year when the SEC opened it for public comment.

According to the update, the original decision deadline was May 3, 45 days after the proposal was entered into the Federal Register on March 19. With this delay, the securities agency has added another 45 days to review the proposed rule change, moving the deadline to June 17.

According to the notice, no public comments have been submitted on the proposal yet.

This pushes back the timeframe for the SEC to decide on the proposed ETF.

The move comes as the SEC faces increasing pressure to approve new crypto products. Earlier this year, the commission also pushed back its decision on Grayscale’s Ethereum Spot ETF Staking Proposal. The Commission will decide by June 1, 2025.

Some investors have shared their frustration online, saying the repeated delays may point to bigger issues with how the SEC handles crypto regulation.

XRP Price Holds Steady Amid US SEC ETF Delays

Since the announcement of the delay, the price of the Ripple-linked cryptocurrency has managed to hold above the $2.29 level at press time. This shows only a mild increase of 0.86% on the day.

The coin had reached a high of $2.32 and a low of $2.26. On the 4-hour chart, XRP continues to trade near the top of its weekly range.

However, a 46.09% dip in trading volume to $2.64 billion indicates that buying interest may be losing steam. The recent optimism following the ProShares XRP ETF news is fading.

Market watchers now question whether the SEC’s indecision could cause XRP to lose momentum.

21Shares Dogecoin ETF Hopes Re-ignited

In related news, Nasdaq has filed to list the 21Shares Dogecoin ETF, officially engaging the SEC in the review process. This follows 21Shares’ earlier submission of the 19b-4 form for the same product.

While Dogecoin's price remained relatively flat at $0.1787, the filing signals the growing institutional interest in crypto ETFs. It also sustains optimism for the broader approval of digital asset funds under Paul Atkins as Chairman.