The U.S. Securities and Exchange Commission (SEC) has delayed making a decision of the spot XRP filing proposed by $1.4 trillion giant Franklin Templeton.
The SEC was initially expected to announce its decision on May 3, but the deadline was then formally extended to June 17.
The holders of the fourth-largest cryptocurrency by market cap should not read too much into the most recent postponement since it is a rather mundane procedural step.
Such extensions are considered to be part of due diligence, meaning that they are not necessarily a sign of disapproval.
Franklin Templeton is the largest player to file for a spot XRP ETF to date. It originally submitted its S-1 form in early March.
As reported by U.Today, Jenny Johnson, chief executive officer at Franklin Templeton, recently outlined her bullish views on crypto, claiming that it represents the future of finance.
There are also some crypto-native players, such as Bitwise and 21Shares, that have submitted their own competing XRP filings.
Earlier today, the SEC also delayed the firm’s Solana ETF filing. BlackRock and Fidelity are yet to join the race, but some analysts are certain that these juggernauts will not remain on the sidelines.
In other news, as reported by U.Today, the very first spot XRP ETF in North America is on track to launch on Wednesday by Purpose Investments on the Toronto Stock Exchange.
It is widely expected that Paul Atkins’s SEC will eventually approve some spot-based altcoin ETFs in late 2025. Polymarket bettors remain extremely bullish on XRP ETF approval odds.
