- The U.S. SEC has delayed its decision to approve or deny Franklin Templeton’s application for a spot XRP ETF.
- The SEC has extended the review period for the XRP ETF until June 17, 2025.
- ETF analyst James Seyffart says most final rulings on the bulk of ETF filings will likely occur in October or later.
The U.S. Securities and Exchange Commission (SEC) has postponed its decision on the spot XRP exchange-traded fund (ETF) proposed by Franklin Templeton.
In an announcement dated April 29, 2025, the SEC stated it will have until June 17, 2025, to decide whether to approve or reject the proposed spot XRP ETF. This new extension gives the agency additional time to review Franklin Templeton’s filing.
SEC delays decision on Franklin Templeton’s XRP ETF
According to the SEC filing, the agency requires more time to evaluate Franklin Templeton’s application, which was originally submitted on March 19, 2025.
The proposal seeks to list and trade shares of the Franklin XRP Fund under NYSE Arca Rule 8.201-E. The SEC noted that the extended review period—now set at 45 days—could be lengthened further to as much as 240 days from the filing’s initial publication in the Federal Register, potentially pushing a final decision into mid-October 2025.
The SEC’s filing explains that the delay is consistent with legal procedures and provides time to thoroughly assess the proposed rule change and its alignment with self-regulatory organization requirements. This move follows the regulator’s cautious approach to crypto-related financial products, a stance that previously led to multi-year reviews for spot Bitcoin and spot Ether ETFs.
What’s next, according to the ETF analyst?
Despite these delays, investor demand for crypto ETFs remains strong. In recent months, issuers have submitted more than 70 filings seeking approval to launch ETFs tied to major altcoins. Among the most anticipated are ETFs for XRP, Solana, Litecoin, Hedera and Dogecoin.
Responding to the latest delay, Bloomberg ETF analyst James Seyffart said he expects additional SEC postponements this week and in the coming days. The regulator has also pushed back decisions on Ethereum staking and Dogecoin ETFs. Seyffart anticipates that the deadlines for most ETF filings will fall in October 2025 or later.
Seyffart noted: “I expect more delays today, or at least this week, on some Solana and Hedera/HBAR ETF filings. That’s to be expected, in my view. The final deadline for most of these filings is October 2025 or after.”