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Cryptocurrency News Articles
Key Notes: XRP Price Postpones Its Decision on Grayscale's Application for a Spot XRP
May 21, 2025 at 08:48 pm
The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Grayscale's application for a spot XRP XRP $2.22 24h volatility: 0.8% Market cap: $129.99 B Vol. 24h: $2.17 B
The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Grayscale’s application for a spot XRP exchange-traded fund (ETF). According to the latest information from the agency, it has now commenced formal proceedings to seek public comments and undertake a deeper analysis of the application.
The news comes as no surprise to most experts, who had anticipated a delay in the SEC’s verdict. As per regulatory norms, the agency has 240 days from the time of filing to approve or deny an application. In cases where the agency initiates further proceedings, it can extend this window.
According to Bloomberg ETF analyst James Seyffart, most of the applications have final deadlines in October, and any early decisions would be unusual.
Most of these filings have final due dates in October. Early decisions would be the action that’s out of the norm. No matter how "Crypto-friendly" this SEC is there’s no…
— James Seyffart (@JSeyff) May 20, 2025
According to a report by Benzinga, some XRP funds are due for updates soon, but meaningful decisions, particularly approvals, are more realistically expected sometime between late Q2 and early Q4.
Earlier this year, the SEC approved the first two Bitcoin ETFs from firms like WisdomTree and Invesco. However, the agency also slapped cryptocurrency exchange Binance with a lawsuit for allegedly defrauding investors.
Also Read: Institutional Interest In Bitcoin Remains High As Another 12,000 BTC Exit Coinbase Custody
On Monday, the SEC also sued cryptocurrency exchange Coinbase in a case that could have significant implications for the future of digital assets in the U.S.
The regulator is examining several applications for spot Bitcoin ETFs, and some experts believe that the agency could approve at least one of these applications by the end of the year.
As the SEC continues its scrutiny of the crypto industry, the coming months will be pivotal for the industry’s development in the U.S.
The post SEC Extends Decision on Grayscale’s Spot XRP ETF Application, Inviting Public Comments appeared first on Key Notes.
The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Grayscale’s application for a spot XRP exchange-traded fund (ETF). As per the latest information from the agency, it has now commenced formal proceedings to seek public comments and undertake a deeper analysis of the application.
This delay does not come as a surprise to most experts, who had anticipated a delay in the SEC’s verdict. As per regulatory norms, the agency has 240 days from the time of filing to approve or deny an application. In cases where the agency initiates further proceedings, it can extend this period.
According to Bloomberg ETF analyst James Seyffart, most of the applications have final deadlines in October, and any early decisions would be unusual.
Most of these filings have final due dates in October. Early decisions would be the action that’s out of the norm. No matter how "Crypto-friendly" this SEC is there’s no…
— James Seyffart (@JSeyffart) May 20, 2025
According to Benzinga, some XRP funds are due for updates soon, but meaningful decisions, particularly approvals, are more realistically expected sometime between late Q2 and early Q4.
Earlier this year, the SEC approved the first two Bitcoin ETFs from firms like WisdomTree and Invesco. However, the agency also slapped cryptocurrency exchange Binance with a lawsuit for allegedly defrauding investors.
According to the complaint, Binance and its founder Changpeng Zhao allegedly engaged in acts of price manipulation, diverted customer funds, failed to disclose the true nature of its operations, and engaged in illegal activities like selling unregistered securities. The SEC is also seeking the freezing of Binance’s assets.
The regulator is examining several applications for spot Bitcoin ETFs, and some experts believe that the agency could approve at least one of these applications by the end of the year.
As the SEC continues its scrutiny of the crypto industry, the coming months will be pivotal for the industry’s development in the U.S.
The post SEC Extends Decision on Grayscale’s Application for Spot XRP ETF, Invites Public Comments appeared first on Key Notes.
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