SEC Delays XRP ETF Decision as Franklin Templeton Joins Hopefuls – Decrypt

The Securities and Exchange Commission delayed its decision on its Grayscale application. XRP According to a, the exchange trade fund Let me know Submitted on Tuesday.

The committee said it would require a “long period” to determine whether an application seeking to establish a spot XRP ETF in the United States will be approved or rejected.

When SEC recognized the Grayscale application last month, trigger 45 days initial review period. The SEC could ultimately extend its timeline up to 240 days after the Grayscale proposal was made public to the Federal Registrar, with the May 21 deadline approaching.

Agents can make final decisions until mid-October. Meanwhile, on Franklin Templeton submitted on Tuesday application For Spot XRP ETFs with regulators.

The SEC allows for the submission of XRP ETFs Canary capital, WisdomTree, Bitwise, Coin shareand 21 shares.

XRP filing is part of a wider gust of winds submitted by major issuers to address the burgeoning demand for digital asset investments packaged in traditional financial products. These initiatives follow the spot's historic debut Bitcoin It is the fastest growing category of funds in ETF history, and is currently management Nearly $100 billion in assets.

Last year, Ripple Labs CEO Brad Garlinghouse described the approval of the XRP ETF in the US as “inevitable.” Quote overwhelming demand from institutional and retail investors.

According to Crypto Data Provider, XRP prices have recently risen to $2.19, up nearly 9% Coingecko. It's particularly off from the post-election peak of $3.38, but cryptocurrency is held Better profits than competitors including Bitcoin Ethereum Since November 5th.

Experts say the reelection of US President Donald Trump was a boon for XRP. Under former SEC Chairman Gary Gensler, the cryptocurrency regulation situation was challenged as the institutions moved forward. Litigation To Ripple Labs on XRP sales.

The SEC has not yet waived its enforcement lawsuit against Ripple Labs. Still, the SEC has finished similar famous actions against exchanges like Coinbase and Kraken.

Edited by James Rubin