Delay looms for XRP Exchange-Traded Fund proposal from $1.5 trillion behemoth amid SEC's scrutiny
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The U.S. Securities and Exchange Commission (SEC) is taking its sweet time with a decision on Franklin Templeton's XRP exchange-traded fund (ETF) filing. Don't get your XRP-scrambling panties in a twist; it's just a procedural delay.
Franklin Templeton, that humongous $1.5 trillion investment juggernaut, jumped headfirst into the XRP ETF race back in March. They've been the biggest player in the game so far. But hey, BlackRock and Fidelity haven't joined the party yet. Some folks think they're saving their moves for later.
Now, ProShares aims to launch XRP ETFs by May 14, but reportedly not before then, unlike some rumors that had the SEC giving them the green light on Apr. 30.
Meanwhile, the new SEC boss, Paul Atkins (a pro-crypto libertarian), has been steering the ship since earlier this month. This delay isn't unusual; the SEC needs more time to analyze the rule change and wrap up regulatory matters raised in the XRP ETF filing information.
Now, the SEC typically needs 240 days to make a final decision on ETF proposals. They've extended the review period for various spot XRP filings from firms such as Bitwise and Grayscale, which were under former Acting Chair Mark Uyeda's watch.
According to what Bloomberg says, we can expect a heap of decisions regarding cryptocurrency-linked ETFs in the fourth quarter of the year, with XRP ETFs potentially getting the final verdict around mid-October. To be exact, they're looking at October 18, 2025, as the dates for the SEC's big decisions.
By the way, the SEC recently extended the review period for Bitwise's Dogecoin (DOGE) ETF filing and Fidelity's proposal to add staking to its spot Ethereum ETF, too.
So, there you have it! Don't panic about the delay. Keep your eyes peeled for more updates on XRP ETFs. Stay tuned to U.TODAY for all the latest crypto news!
- Franklin Templeton, with a whopping $1.5 trillion in assets, filed for an XRP exchange-traded fund (ETF) back in March.
- ProShares aims to launch XRP ETFs by May 14, but the SEC decision might not come before then.
- The SEC typically needs 240 days to make a final decision on ETF proposals, and they've extended the review period for various spot XRP filings.
- The SEC recently extended the review period for Bitwise's Dogecoin (DOGE) ETF filing and Fidelity's proposal to add staking to its spot Ethereum ETF.
- According to Bloomberg, we can expect a series of decisions regarding cryptocurrency-linked ETFs in the fourth quarter of the year, with potential XRP ETF decisions around mid-October.
- While the current delay in decisions on XRP ETFs may seem long, it's simply due to the SEC needing time to analyze rule changes and wrap up regulatory matters.
