XRP News Today: SEC Delays 21Shares Polkadot Trust Listing Decision Until July 26

The US Securities and Exchange Commission (SEC) has announced a delay in its decision regarding the listing and trading of shares of the 21Shares Polkadot Trust on the Nasdaq Stock Market. This delay was confirmed in an order dated June 24, 2025, published on the SEC’s official release. Nasdaq originally submitted the proposed rule change on March 17, 2025, seeking to list and trade commodity-based trust shares of the 21Shares Polkadot Trust. The proposed rule was later published in the Federal Register on March 26, 2025, marking the beginning of the formal comment period.

The SEC stated that on May 8, 2025, the Commission exercised its authority under Section 19(b)(2) of the Securities Exchange Act of 1934 to designate a longer period for reviewing the proposal. Under this provision, the SEC is permitted to take up to 240 days from the date of publication to approve, disapprove, or institute proceedings on the proposed rule change. The new deadline for a final decision has now been set for July 26, 2025. As of now, no public comments have been submitted regarding the proposed Polkadot ETF, according to a release cited in the SEC’s filing.

The Switzerland-based crypto asset manager has applied for several exchange-traded fund applications over the course of 2025. 21Shares has submitted spot crypto ETFs proposals for assets like Solana and Chainlink. In March 2025, the SEC also acknowledged the filing of a 21Shares application for a Solana-based ETF. That acknowledgment kicked off the 45-day review period typically granted under SEC rules. The initial countdown began earlier this year, but the regulator has yet to approve or deny the application, leaving the door open for further extensions. Similarly, the firm collaborated with Ark Invest for a Bitcoin ETF that was officially approved earlier this year. Each filing now appears to be moving through the regulatory pipeline at a measured pace. The SEC has shown a willingness to engage, but continues to invoke procedural delays allowed under its legal mandate.

The SEC’s handling of the 21Shares Polkadot Trust application adds to the statements of delay the financial regulator has made this year, on multiple crypto ETF proposals. In late May, the Commission postponed its decision on two separate applications submitted by Grayscale Investments and Bitwise for a spot XRP ETF. The SEC invoked its authority to extend the review period, stating that additional time was needed to consider the application more thoroughly. A final decision could now be pushed as far as mid-October, depending on how many extensions are used. Asset management giant Franklin Templeton also submitted a filing for a spot XRP ETF just days after the SEC made its announcement on Bitwise and Grayscale.

Market analysts are optimistic about the outcome for many of the pending crypto ETF applications. According to the analyst's forecast, the approval odds for several spot crypto ETFs have been raised to 90% or higher. The delay in the decision-making process is not uncommon for the SEC, especially when dealing with innovative financial products like cryptocurrency ETFs. The Commission has a responsibility to ensure that any new financial instrument meets the necessary regulatory standards and does not pose undue risks to investors. By extending the comment period, the SEC aims to gather a broader range of perspectives and data, which can help inform a more comprehensive decision.

The delay also reflects the broader regulatory challenges faced by the cryptocurrency industry. As digital assets continue to gain mainstream acceptance, regulators are grappling with how to balance innovation with investor protection. The SEC's decision to push back the Polkadot ETF decision underscores the complexity of this task and the need for a thorough and deliberate approach. The delay in the Polkadot ETF decision is likely to have implications for the broader cryptocurrency market. Investors and market participants will be closely watching the SEC's actions, as the approval or rejection of a spot Polkadot ETF could set a precedent for other cryptocurrency ETFs. The outcome of this decision could influence market sentiment and potentially impact the prices of other digital assets.

In the meantime, the cryptocurrency community continues to advocate for greater regulatory clarity and support for innovative financial products. The delay in the Polkadot ETF decision serves as a reminder of the ongoing dialogue between regulators and the industry, as both sides work towards a more stable and transparent financial ecosystem.