The U.S. Securities and Exchange Commission (SEC) have postponed its decisions on several alternate currency exchange-traded fund (ETFs) applications, including two XRP-related applications).
The regulator announced the postponement on March 11, extending the review period for proposed ETF applications. This decision affects orders from various companies, including Grayscale, Van Eyck, 21Shares and Canary. The SBSTA noted the need for more time to evaluate proposals and related issues before a final decision was taken.
The US Securities and Exchange Commission (SEC) has extended the review period for Ripple Exchange Traded Funds (ETFs) applications The US Securities and Exchange Commission (SEC) has postponed multiple requests for ETFs) for Ripple, which affected orders from Graysscale and Canary. According to official data, the proposed rule change allowing XRP exchange-traded funds underwent amendments before it was published in the Federal Register on February 20, 2025. The initial review period, which is 45 days, was scheduled to end on April 6, 2025.
However, the commission has now extended the deadline, setting May 21, 2025 as a new date for the decision. This extension provides regulators with additional time to evaluate applications.
Among the deferred orders, Canary’s request for XRP Spot ETF will be considered on May 22, 2025. Meanwhile, Grayscale’s request for XRP ETF faces the same delay. The SEC’s decision is in line with similar extensions granted to other cryptocurrency ETFs.
Additional delays for other altcoin ETFs
Besides XRP-related ETFs, the U.S. Securities and Exchange Commission has also postponed its decision on several alternative currency investment products. The CMA postponed issuing its rulings on Solana ETF requests from Van Eck, 21 Shares and Canary.
Growing interest in XRP ETFs
A financial expert insisted that institutions will likely diversify their investments from focusing only on Bitcoin and Ethereum, adding XRP ETFs to their portfolio.
The comment from Linda B. Jones, wealth expert and author of “3 Steps to Quantitative Wealth,” came as $1.53 trillion asset management firm Franklin Templeton applied to launch its XRP ETF product, adding to a similar series of requests from leading asset management firms..
Franklin Templeton’s interest raised the total potential XRP ETFs to a record 15, the highest number for any single crypto asset. To clarify, Bitcoin, the leading crypto asset, saw 11 orders, while Ethereum saw only 8. Other assets also saw fewer orders.
XRP’s record 15 ETF orders, a record, sparked positive feedback from members of the investor community, who point out that this figure translates into massive demand for XRP investment products. Matt Hogan, CIO at Bitwise, confirmed this, revealing last month that there was huge demand for XRP.
However, “Street Wolf” host Scott Melker believes otherwise. After Franklin Templeton submitted his application and the enthusiasm in the XRP community, Melker drew attention to what he sees as a demand from the cryptocurrency industry for “endless ETFs.” According to him, he does not mind this approach.
However, the market is expert pointed out that despite these multiple orders, investors may not buy these products “soon”. In essence, he argued that these funds, even after approval, would not attract much demand, with the exception of Bitcoin products, which are already a huge success.
Bitcoin Rises and XRP Funds Orders Increase
Bitcoin has seen an amazing comeback. After falling below $78,000, the world’s largest cryptocurrency has risen to nearly $82,000. Coin telegraph reported that the rise followed positive technical indicators and a retest of the 50-week exponential moving average. Other major currencies, including Ethereum, Ripple and BNP, also saw gains.
The U.S. Securities and Exchange Commission (SEC) has suspended trading of Dogecoin, Ripple, and Litecoin in Exchange Traded Funds (ETFs)
Global investment firm Franklin Templeton has applied to the U.S. Securities and Exchange Commission (SEC) for an ETF for Ripple.
After the company filed its application on Tuesday, the U.S. Securities and Exchange Commission (SEC) announced that it would postpone its decision on previous orders filed by Canary Capital and Grayscale..
According to the S-1 listing filed by Franklin Templeton with the U.S and Exchange Commission (SEC), the investment firm plans to trade its XRP product, if approved, on the Cboe BZX using Coinbase Custody as the custodian of XRP assets. Part of the recording stated that the fund aims to reflect the overall performance of the XRP price.
Besides Franklin Templeton, other investment firms have already applied for XRP exchange-traded funds to the U.S. Securities and Exchange Commission (SEC), including Bitwise, 21Shares, Grayscale, WisdomTree, and Canary Capital. And Coin Shares. All of these companies are awaiting approval from the U.S. Securities and Exchange Commission (SEC) before launching products that will make XRP available to institutional investors, similar to what happened with Bitcoin and Ethereum last year.
According to U.S. Securities and Exchange Commission (SEC) rules, the regulator has 240 days to decide whether to approve or deny Franklin
