XRP news today: Franklin Templeton's XRP ETF Decision Delayed by SEC Until 2025

The U.S. Securities and Exchange Commission (SEC) has delayed its decision on Franklin Templeton's proposal to launch an exchange-traded fund (ETF) tracking Ripple’s XRP token. This move comes as the investment giant, managing approximately $1.5 trillion in assets, seeks regulatory approval for its Franklin XRP Fund. The SEC cited the need for additional time to evaluate the proposed rule change filed by Cboe BZX Exchange, setting a new decision date for June 17, 2025.

Franklin Templeton's entry into the XRP ETF race marks a significant development, as it is the largest player to date to pursue such an investment vehicle. The firm joins other prominent investment managers in seeking regulatory approval for XRP-based ETFs. This flurry of filings follows the successful launch of Bitcoin ETFs in January 2024, which has spurred optimism among asset managers regarding the potential for altcoin ETFs.

The delay by the SEC is part of a broader trend of postponements for various crypto ETF proposals. On the same day, the agency also delayed decisions on the Grayscale Hedera Trust, staking for the Franklin Crypto Index ETF, and the Bitwise Dogecoin ETF. These delays reflect the SEC's cautious approach to regulating the rapidly evolving crypto market. The agency has over 70 crypto ETFs awaiting review, indicating a backlog that may take considerable time to address.

The appointment of Paul Atkins as the new SEC chair has raised hopes among crypto enthusiasts. Atkins, known for his pro-crypto stance, has expressed his expectation of "huge benefits" from digital assets and has pledged to work with lawmakers to develop a clear regulatory framework. This shift in leadership could potentially expedite the approval process for crypto ETFs in the future.

The delay in Franklin Templeton's XRP ETF proposal underscores the regulatory challenges faced by the crypto industry. While the SEC's cautious approach is aimed at protecting investors, it also creates uncertainty for asset managers and investors alike. The outcome of these regulatory decisions will have significant implications for the future of crypto investment vehicles and the broader digital asset market.