U.S. SEC has postponed its decision on the Franklin Templeton spot XRP ETF application.
The SEC issued the notice on Wednesday, emphasizing that it will issue its final decision on Franklin’s XRP ETF proposal later this year.
Franklin XRP ETF Progress
Notably, the SEC notification provided an update on the ETF’s progress, which dates back to mid-March when the Cboe BZX Exchange first proposed listing and trading shares of the product.
Cboe initially filed to list Franklin’s proposed XRP ETF shares on March 13, starting the countdown clock for an SEC decision. By March 19, the SEC published the application in the Federal Register.
Under federal securities law, the SEC has 45 days from publication to decide the fate of Franklin’s XRP ETF proposal. However, it can extend this period to 180 days, with the option to move the deadline by an additional 60 days if necessary.
The 180-day deadline was initially slated for September 15, 2025. However, in the latest notice, the SEC stated that it has exercised its authority to use the 60-day extension.
New Final Deadline
Accordingly, the SEC moved the final deadline to November 14. It noted that the extension was necessary to allow additional time to review the application thoroughly.
Essentially, the SEC must either approve or disapprove Franklin’s XRP ETF by November, which is nearly two months away. If approved, Franklin would provide investors with regulated exposure to XRP performance.
It is worth noting that the extension is a standard move by the SEC in relation to crypto-related ETF filings. The commission typically utilizes the maximum extension available to gather additional input and analyze risks before issuing a decision.
As reported earlier, the SEC also postponed its decision on other proposed XRP ETFs, including those from Bitwise, Canary, Grayscale, 21Shares, and CoinShares.
Although Franklin’s final deadline is November 14, the SEC is expected to rule on several other XRP ETF applications by mid-October, including proposals from Grayscale and Bitwise.
Growing Confidence About Potential Approval
Market expectations suggest that the commission would approve XRP ETFs for launch this year. Polymarket data shows a 92% probability of XRP ETFs launching this year, up from 91% last week, reflecting strong optimism about potential approval.
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XRP ETF Approval Odds on Polymarket
The strong optimism stems from the SEC shifting its stance on digital assets, as reflected in the Project Crypto initiative. Moreover, Chair Paul Atkins recently declared that crypto’s time has come.
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