XRP news today: SEC Extends Review of Franklin Templeton's Spot XRP ETF to June 17, 2025

The U.S. Securities and Exchange Commission (SEC) has extended the review period for Franklin Templeton's proposed spot XRP exchange-traded fund (ETF) to June 17, 2025. This decision comes as the SEC continues to evaluate the regulatory framework surrounding cryptocurrency-based financial products. The filing, submitted by Cboe BZX Exchange on March 13, formally entered its initial 45-day review period on March 19. The SEC’s delay follows a familiar regulatory pattern seen across previous crypto ETF proposals.

Franklin Templeton, with a significant asset under management (AUM) of $1.5 trillion, is leading the race for an XRP ETF, positioning itself as a key player in the cryptocurrency investment landscape. The firm submitted its S-1 registration to the SEC in April, signaling deeper institutional interest in crypto-backed ETFs. Besides Franklin, companies like Grayscale, Bitwise, 21Shares, and WisdomTree are also chasing approval for XRP-based investment vehicles.

The delay in the decision on Franklin Templeton's spot XRP ETF is part of a broader trend of delayed decisions on cryptocurrency ETFs. The SEC also postponed rulings on Fidelity’s spot Ethereum ETF with staking, Bitwise’s spot Dogecoin ETF, and Franklin’s spot Solana ETF. Analysts say the delays are procedural rather than negative indicators. According to the analyst's forecast, extensions are routine and expected during early review stages.

Despite the regulatory hold-up, XRP continues to show resilience in the market. The token is currently trading at $2.30, marking a 6% gain in the past week. With a circulating supply of 58 billion XRP, the asset holds a market capitalization close to $131 billion, keeping it among the largest digital assets by market value.

The extension of the review period for Franklin Templeton's spot XRP ETF suggests that the regulatory body is taking a thorough and deliberate approach to evaluating these complex financial products. This cautious stance is likely driven by the need to address potential risks associated with cryptocurrency investments, such as market volatility and regulatory uncertainty. The delay in the decision on Franklin Templeton's spot XRP ETF has implications for the broader cryptocurrency market. Investors and industry participants are closely watching the SEC's actions, as the approval or rejection of a spot XRP ETF could have significant implications for the adoption and regulation of cryptocurrencies. The SEC's decision to extend the review period for Franklin Templeton's proposal indicates that the regulatory body is taking a measured approach to evaluating the potential risks and benefits of cryptocurrency-based financial products. This cautious stance is likely to continue as the SEC works to develop a comprehensive regulatory framework for the cryptocurrency industry.