XRP News Today: SEC Delays XRP SOL ETF Decisions Amid Growing Market Expectations

The U.S. Securities and Exchange Commission (SEC) has officially delayed decisions on two additional ETFs, adding them to a growing list of applications now facing extended timelines. According to separate filings published on Tuesday, June 17, the SEC is initiating formal proceedings to determine whether to approve or deny Franklin Templeton’s proposed XRP (XRP) and Solana (SOL) ETFs. This move pauses the decision-making process for several weeks to allow for additional public input and internal review.

The SEC’s decision adds to a growing trend of delays, coming just a week after it similarly postponed rulings on DOGE (DOGE), AVAX (AVAX), and HBAR (HBAR) ETFs. While not a rejection, the delay marks a setback for rising market expectations of an imminent approval. However, analysts remain optimistic. ETF analyst James Seyffart emphasized that the SEC’s delay is not unusual. He noted that while the approval timeline remains uncertain, active engagement from the commission is a “very positive” signal. Earlier this month, the analyst placed approval odds for both SOL and XRP ETFs at 90% and 85% respectively, citing the SEC’s current view of each asset, existing CFTC oversight of futures, and the strength of the filing institutions.

Both SOL and XRP have dropped roughly 4% over the past 24 hours, likely in response to the regulatory decision. Meanwhile, the first XRP ETF recently launched in Canada following approval from the Ontario Securities Commission (OSC), signaling growing interest and adoption beyond the United States. The delay in the decision on the XRP and SOL ETFs has not dampened the enthusiasm within the crypto community. XRP and SOL have seen recent price increases, driven by corporate buying, ETF hopes, and strong fundamentals. This reflects a growing institutional appetite in the crypto market. The increased filings for XRP ETFs stem from the resignation of a former SEC official, which has led to a more favorable regulatory environment for crypto ETFs. The community's optimism is further bolstered by the potential for a significant price rally if the ETFs are approved. Analysts have predicted that XRP could surge to $27 if a spot ETF gets approved, although this remains speculative.

The delay in the SEC's decision on the XRP and SOL ETFs is part of a broader regulatory landscape that has seen increased scrutiny of crypto assets. The SEC's decision to open Franklin Templeton's XRP and SOL ETF proposals to public comments has pushed the deadline for approval or disapproval to late July. This delay could be extended further, depending on the outcome of the public comments and ongoing discussions within the SEC. The regulatory body's decision will have significant implications for the crypto market, as the approval of these ETFs could pave the way for other crypto assets to gain regulatory approval. The community's optimism remains high, despite the delay, as the potential for a significant price rally and increased institutional investment in the crypto market continues to drive enthusiasm.