- The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Franklin Templeton’s application for a spot XRP ETF.
- The SEC extended the review period for the XRP ETF to June 17, 2025.
- ETF analyst James Seyffart says most final rulings on ETF proposals are issued in October or later.
The U.S. Securities and Exchange Commission (SEC) has delayed its decision on Franklin Templeton’s proposed spot XRP exchange-traded fund (ETF).
In a notice dated April 29, 2025, the SEC announced it will now have until June 17, 2025, to determine whether to approve or deny the spot XRP ETF. This new extension gives the agency additional time to evaluate Franklin Templeton’s filing.
SEC pushes back decision on Franklin Templeton’s XRP ETF
According to the SEC filing, the agency requires more time to assess 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, currently set at 45 days, could be lengthened to as many as 240 days from the date of first publication in the Federal Register. If extended to the maximum, that timeline could push a final determination into mid-October 2025.
The filing states the extension is consistent with the law and affords the SEC time to thoroughly examine the proposed rule change and its compliance with self-regulatory organization requirements. This move follows the SEC’s cautious approach to crypto-related financial products; previous approvals for spot Bitcoin and Ether ETFs took years to achieve.
ETF analyst: what happens next?
Despite the delays, investor demand for crypto ETFs remains strong. In recent months, issuers have filed more than 70 proposals seeking approval to list ETFs tracking major altcoins.
The most anticipated filings include ETFs for XRP, Solana, Litecoin, Hedera, and Dogecoin. Bloomberg ETF analyst James Seyffart commented on the delay and said he expects similar postponements from the SEC this week and in the near term.
The regulator has also delayed decisions on other matters, including Ethereum staking and a Dogecoin ETF. Seyffart expects that final deadlines for most ETF filings will fall in October 2025 or later.
“I expect additional delays on some filings for Solana and Hedera/HBAR today or at least this week. In my view, that’s expected. Final deadlines for most of these matters are in October 2025 or later,” Seyffart said.