SEC Postpones Ruling on Franklin Templeton's Spot XRP ETF

The delay—announced through a formal notice—follows the regulator’s routine procedure of taking additional time to evaluate crypto-linked investment proposals.

The U.S. Securities and Exchange Commission (SEC) has postponed its ruling on Franklin Templeton’s spot XRP ETF application to June 17.

The regulator’s decision to take additional time to evaluate the crypto-linked investment proposals follows its usual procedure.

The SEC has postponed its decision on Franklin Templeton's XRP spot ETF application to June 17. Source: SEC

The Commission deems it appropriate to designate a longer period within which to take action on the proposed rule change, so that it has sufficient time to consider the proposed rule change and the issues raised therein.

This marks another chapter in the ongoing XRP SEC standoff, with the agency maintaining its cautious stance toward crypto- despite growing interest from traditional finance giants.

The post SEC Extends Ruling on Franklin Templeton's Spot XRP ETF; Ripple ETF Awaits Decision appeared first on BeFi.

After Franklin Templeton submitted the XRP ETF application on March 13, the proposal was published in the Federal Register on March 19. The SEC was initially expected to respond by May 3.

Franklin Templeton's filing to list the Franklin XRP Trust on the Cboe BZX Exchange would be the first big U.S.-based spot XRP ETF, offering direct exposure to the price of XRP without taking direct ownership of the asset. The proposal arrives in the wake of increasing expectations for the outcome of the Ripple lawsuit and XRP lawsuit news, as regulatory clarity continues to drive market sentiment.

Despite repeated setbacks, there is still hope, especially under the new SEC Chair, Paul Atkins, who is known for his pro-crypto inclinations.

XRP Price Remains Stable Amid ETF Uncertainty

Even as the SEC delays its decision, XRP price has remained relatively stable, trading around $2.29 with modest intraday gains. According to market data, the token recorded a 0.86% increase at press time, reflecting resilience despite a significant dip in trading volume—down over 46% to $2.64 billion.

Some analysts attribute this price stability to broader market consolidation and lingering optimism from previous news about futures-based XRP ETFs. Others caution that investor interest could wane if the SEC continues to stall decisions on products like the Franklin XRP Fund.

Broader Context: SEC Slow-Walks Multiple Crypto ETFs

Franklin Templeton isn't alone. The SEC also postponed decisions on other crypto ETF filings, including Grayscale's Ethereum staking ETF, Bitwise's Dogecoin ETF, and Franklin's own Solana ETF proposal. These delays are seen by many as part of a broader strategy to methodically approach digital asset regulation.

Bloomberg ETF analyst James Seyffart called the delay “standard procedure,” adding that it likely won't affect the ultimate outcome. Fellow analyst Eric Balchunas echoed that sentiment, noting that similar extensions occurred before the approval of Bitcoin and Ether ETFs.

“These delays are part of the process. Final deadlines for most of these filings don't arrive until the fall,” Seyffart explained.

The final decision for XRP ETFs is expected around mid-October, the maximum 240-day review period allowed under SEC rules.

The post SEC Extends Ruling on Franklin Templeton’s Spot XRP ETF; Ripple ETF Awaits Decision appeared first on BeFi.