Bogotá, Colombia — In a move underscoring the U.S. Securities and Exchange Commission’s (SEC) measured approach to digital asset integration, the regulatory body has once again deferred its decision on Franklin Templeton’s proposed spot XRP exchange-traded fund (ETF). This latest extension pushes the review timeline to November 14, prolonging the anticipation for a product keenly watched by the crypto investment community.
Franklin Templeton, an investment management behemoth overseeing assets totaling $1,53 billones, initially submitted its application for an XRP ETF in early March. Its foray into the XRP ETF landscape marks the most significant commitment by a traditional financial giant to date, setting it apart from peers like BlackRock, which reportedly has no immediate plans for XRP or Solana-based ETF products, despite its formidable $12,5 billones in assets under management.
The extended deliberation comes amidst a backdrop of increasing market optimism for XRP ETF approvals. Prediction markets like Polymarket currently peg the odds of an XRP ETF receiving SEC clearance in 2025 at a robust 92%, signaling strong sentiment among bettors. This aligns with projections from prominent Bloomberg analysts, who have previously indicated that approvals for various spot altcoin ETFs could materialize as early as October.
However, the SEC’s latest deferral is not an isolated incident. The commission has recently demonstrated a consistent pattern of caution when evaluating novel crypto investment vehicles. Earlier this week, the regulator similarly pushed back its decision on Bitwise’s Dogecoin ETF and has also delayed approvals for ETFs linked to staked altcoins. These repeated delays highlight the complex regulatory tightrope the SEC navigates as it grapples with the unique characteristics and evolving legal status of digital assets.
As the financial world awaits the SEC’s definitive stance, the ongoing scrutiny underscores the challenges and opportunities at the intersection of traditional finance and the rapidly expanding digital asset economy. The November deadline for Franklin Templeton’s XRP ETF will be a pivotal moment, potentially setting a precedent for future altcoin investment products.
