The U.S. SEC has again delayed its decision on two spot-based XRP ETF applications from CoinShares and Bitwise.
Famous Bloomberg Intelligence expert James Seyffart called the public’s attention to the SEC’s delayed decision on the CoinShares and Bitwise XRP ETFs.
The SEC postponed decisions on Cboe BZX’s application to list shares of Bitwise’s XRP ETF and Nasdaq’s application to list CoinShares’ XRP ETF.
U.S. SEC has delayed reviews of $XRP ETFs filings from Bitwise and CoinSharesETF filings. pic.twitter.com/JFvUzKFMe3
— TheCryptoBasic (@thecryptobasic) May 23, 2025
Next Deadline
The SEC postponed the decision on the filings ahead of the second deadline scheduled for later this month. Data from Seyffart and his colleague Eric Balchunas showed that the second deadline for the Bitwise XRP ETF is May 25, while that of CoinShares is set for May 26, 2025.
Based on the recent decisions, the proposed XRP ETF issuers will now look forward to the third deadline, which is slated for August 23 – 24, 2025.
SEC Institutes Proceedings, Calls for Public Comments
Meanwhile, a statement from the regulator confirmed that the commission had instituted proceedings on the applications to ascertain whether to approve or disapprove the ETFs tied to XRP. The instituted proceeding involves the SEC calling for public comment regarding the proposed funds.
The commission aims to address some substantive questions relating to the XRP ETF proposals. Following the request, the public has 21 days to submit comments and 35 days to issue rebuttals on the filings once the SEC’s latest decision appears in the Federal Register.
Other Delays
In addition to the XRP ETF filings, the commission delayed its decision on other crypto-related exchange-traded funds, including the CoinShares Litecoin ETF and Fidelity’s in-kind Bitcoin filings.
The development aligns with the SEC’s recent wave of delays on pending ETF applications tied to crypto assets. Recall that earlier this week, the regulator also postponed its decision on multiple crypto ETFs, including the Grayscale and 21Shares XRP ETFs.
Following its recent wave of delays, the SEC is also expected to postpone its decision on Canary and WisdomTree’s XRP ETF applications, which were due on May 26 and May 27, respectively.
Expected Move
Meanwhile, these delayed decisions on XRP and other crypto ETFs did not come as a surprise to industry observers.
According to Seyffart’s analysis, the SEC might exhaust the entire 240-day review period before it approves or disapproves any pending spot crypto ETF applications.
He set June-July as the earliest date the SEC might approve these crypto ETFs. However, Seyffart suggested that the fund will likely launch in early Q4 2025. Specifically, he expects the SEC to approve the XRP ETFs for launch by mid-October 2025.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
