XRP News Today: SEC Delays Franklin XRP Spot ETF Decision Until July

The U.S. Securities and Exchange Commission (SEC) has sparked a renewed debate within the XRP community by issuing a second delay in its decision on the Franklin XRP Spot ETF. Instead of making a ruling, the SEC opened formal proceedings and invited public comment, pushing the final verdict further into the summer. This move comes after an earlier delay in April, where the agency postponed the initial ruling deadline. The new procedural step indicates that the application, filed by Cboe BZX Exchange, Inc. on March 13, 2025, will not be processed until the end of the public comment period, which is scheduled for mid-late July.

Under Rule 14.11(e)(4), the proposed rule would allow the listing and trading of the Franklin XRP Spot ETF, which falls under Commodity-Based Trust Shares. The SEC has already permitted the creation of ETFs that refer to Bitcoin and Ethereum, but XRP faces greater regulatory pressure. This delay has reignited reactions across the crypto community, with some applauding the move as a sign of increased institutional interest in digital assets, while others criticize the SEC’s schedule, accusing the regulator of dragging its feet on XRP-related matters.

The SEC’s order formally opened the floor for public comments and rebuttals, triggering swift reactions from the XRP community. One user, Metamitra, praised the move, suggesting it indicated growing institutional interest in digital assets. Conversely, another commentator, FrancisBovineSwift, was critical of the SEC’s schedule, arguing that the regulator’s relaxed pace in dealing with XRP was unacceptable. The new delay is part of a recurring tendency in the crypto ETF examination process, as the Commission has used the power of Section 19(b) (2) of the Securities Exchange Act to further delay its process, stating that it should hear the opinion of the masses before anything definitive can be made.

The SEC will consider submitted feedback before making a ruling. Until then, the future of the Franklin XRP Spot ETF remains uncertain, with market participants closely watching how regulators will respond once the comment period ends in late July. The delay has added to the ongoing debate within the XRP community, with some hoping that the public comment period will lead to a more favorable outcome, while others remain skeptical of the SEC’s intentions. The outcome of this decision will have significant implications for the future of XRP and the broader crypto market, as it could set a precedent for how other digital assets are regulated in the United States.