The SEC has delayed a decision on Franklin Templeton’s XRP ETF listing by 45 days, moving the deadline to June 17, 2025. This follows additional scrutiny over crypto investment products amid rising investor protection concerns. The SEC also postponed a decision on Bitwise’s Dogecoin ETF to June 15.
The U.S. Securities and Exchange Commission (SEC) has hit the pause button on Franklin Templeton’s proposed exchange-traded fund (ETF) linked to XRP. They’ve decided to extend the review period by 45 days, meaning investors will have to wait longer to see if the ETF gets the green light. The new deadline for a decision is now pushed back to June 17, 2025.
This decision comes as the SEC aims to carefully evaluate the filing from Cboe BZX Exchange which requested to list the Franklin XRP Fund, a trust dedicated to the cryptocurrency XRP. The initial proposal went in on March 13, and the SEC made the filing public on March 19. Oddly enough, there was no public feedback during this review period. Under federal law, the SEC typically has up to 90 days to give a thumbs up or down on such filings.
This isn’t just about one fund; it reflects larger regulatory concerns surrounding crypto-related investment products. Cryptos face increased scrutiny over issues such as market stability and investor safeguards. Adding further to the mix, the SEC has also announced a delay in reviewing Bitwise Asset Management’s application for a Dogecoin ETF, with that decision now slated for June 15.
The fact that the SEC is taking its time is telling. Although they haven’t specifically detailed their worries, the added time suggests they’re being cautious with cryptocurrency-based financial instruments as the market continues to evolve. A lot of folks speculate that should a more lenient administration like Trump’s come in, approvals for these funds could speed up.
However, these delays could also point to broader regulatory concerns or the necessity to thoroughly assess the custody and liquidity settings of these investments. The crypto industry is ramping up its efforts to introduce mainstream investment options tied to altcoins, yet uncertainty around regulatory green lights looms large. Investors and crypto enthusiasts are watching closely, hoping for clarity and action in future decisions.
