On April 29, 2025, the U.S. Securities and Exchange Commission (SEC) formally announced a delay in its decision regarding a proposed rule change that would allow the listing and trading of shares of the Franklin XRP Trust, a spot exchange-traded fund (ETF) tracking the price of XRP. The delay, officially published in a regulatory notice on the SEC’s website , establishes June 17, 2025, as the new deadline for the agency to either approve, disapprove, or initiate proceedings related to the fund. Ex-Fox Business journalist Eleanor Terrett reported the new development. In her recent tweet, she wrote, “NEW: The @SECGov has delayed making a decision on Franklin Templeton’s $XRP spot ETF until June 17.” Terrett’s reporting captioned an image of the SEC’s public filing, which outlines the agency’s legal basis and rationale for extending the review period. NEW: The @SECGov has delayed making a decision on Franklin Templeton’s $XRP spot ETF until June 17. https://t.co/3EeRWBzBmg pic.twitter.com/BYfZJw5qWl — Eleanor Terrett (@EleanorTerrett) April 29, 2025 Initial Filing and Statutory Timeline The proposal was originally submitted to the SEC by the Cboe BZX Exchange on March 13, 2025, and published for public comment in the Federal Register on March 19, 2025. Under Section 19(b)(2) of the Securities Exchange Act of 1934, the SEC typically has 45 days to act on a proposed rule change after publication. That period was set to expire on May 3, 2025. However, the statute also permits the Commission to extend this review period by up to 90 days if it finds such an extension appropriate and necessary to consider complex issues raised by the filing. SEC’s Reasoning for the Delay In its official notice, the SEC stated, “The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the issues raised therein.” Accordingly, the agency has exercised its authority under Section 19(b)(2) of the Exchange Act to extend the deadline to June 17, 2025. This timeline gives the Commission additional time to evaluate the implications of permitting a spot XRP ETF on U.S. markets. The SEC’s delay does not indicate a definitive leaning toward either approval or disapproval but rather reflects the Commission’s position that further consideration is necessary. The filing also confirms that no comment letters had been received on the proposed rule change at the time of publication. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 A Potential Milestone for XRP in U.S. Markets Franklin Templeton’s proposal represents one of the first serious attempts to list a spot XRP ETF in the United States . Although other digital asset ETFs, such as those tied to Bitcoin, have recently gained traction with the SEC, the XRP-focused product remains under heightened scrutiny due to the asset’s unique regulatory history and ongoing relevance in discussions about the legal status of crypto tokens. The proposed ETF would fall under BZX Rule 14.11(e)(4), which governs the listing of commodity-based trust shares. If approved, the Franklin XRP Fund could mark a significant step in integrating XRP into more traditional financial products available to U.S. investors. The new June 17, 2025, deadline is now the key date by which market participants and observers will look for a final decision. Until then, the fate of Franklin Templeton’s XRP spot ETF remains pending as the SEC continues its review. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on X , Facebook , Telegram , and Google News The post SEC Releases Major Update On This High-Profile XRP ETF appeared first on Times Tabloid .
