The U.S. Securities and Exchange Commission (SEC) has pushed back the time frame for making a final decision on a proposed rule change to list and trade shares of the Franklin XRP Fund under BZX Rule.
According to a filing on Tuesday, the commission pushed the next decision making date to June 17, 2025.
The commission may take up to mid-October to decide on the applications for spot bitcoin and ether ETFs, and the final decision deadline for the spot XRP ETFs is in the fourth quarter.
The agency is also considering applications for spot bitcoin and ether ETFs, with the final decision deadline being the fourth quarter of 2024.
Earlier this week, the U.S. SEC approved the first ever XRP futures ETF by ProShares, with the launch date anticipated in the near term. The Donald Trump administration has remained pro-crypto to further bolster the country’s wider economic plan.
The large-cap altcoin, with a fully diluted valuation of about $229 billion and a 24 hour average trading volume of about $2.5 billion, has benefitted from the wider adoption by institutional investors and global liquidity expansion.
From a technical analysis standpoint, XRP is well-positioned to enter its long-awaited price discovery phase. According to crypto analyst MikyBull, XRP price has successfully retested the support level around $2 and is now ready to rally towards the next target range of between $4 and $6.
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