SEC delays decision on Franklin Templeton’s spot XRP ETF to June 2025

The Securities and Exchange Commission (SEC) has postponed its decision on Franklin Templeton’s spot XRP ETF, extending the review period to June 17, 2025.

Franklin Templeton’s XRP ETF decision postponed by SEC in procedural extension

The U.S. Securities and Exchange Commission has postponed its decision on Franklin Templeton’s spot XRP ETF application, setting a new review deadline of June 17, 2025. The ETF, officially known as the Franklin XRP Fund, was filed through Cboe BZX Exchange and initially entered the Federal Register on March 19. 

The SEC was expected to rule by May 3, but cited the need for additional time to evaluate the proposed rule change and address regulatory issues raised in the filing.

US SEC postpones verdict on Ripple (XRP) ETF | Coingecko

Franklin Templeton, which manages over $1.5 trillion in assets, is the largest asset manager so far to seek approval for a spot XRP exchange-traded product. The application follows a surge of interest from institutional players in crypto-based funds, joining similar efforts from Grayscale, Bitwise, WisdomTree, and 21Shares. 

The SEC’s filing emphasized the need for a “longer period” to consider the proposal fully, a move consistent with past ETF review procedures.

Analysts say altcoin ETF delays reflect SEC’s procedural standards

Despite the delay, analysts say the move follows a predictable pattern. In March, Bloomberg Intelligence ETF analyst James Seyffart described the SEC’s verdict delays as “standard procedure,” noting that such extensions don’t affect the ultimate likelihood of approval.

Notably, Franklin Templeton’s XRP fund is one of several crypto ETF proposals under active SEC review.

On the same day, the agency also extended the decision timeline for other high-profile filings, including Fidelity’s spot Ethereum ETF (which features staking), Bitwise’s Dogecoin ETF, and Franklin Templeton’s own Solana ETF.

More so, Eric Balchunas, Bloomberg’s Chief ETF analyst added that both Bitcoin and Ethereum ETFs experienced similar procedural delays before receiving approval, suggesting market participants should not view the latest extensions as setbacks.

Looking ahead: XRP price likely to avoid $2 breakdown

With the SEC now pushing its XRP ETF decision to mid-June, market participants will closely watch for follow-up commentary from the SEC, and other regulatory reviews in progress. 

XRP, currently the fourth-largest cryptocurrency by market capitalization, traded at approximately $2.24 at press time, rising 7% over the past week, according to CoinGecko. 

Ripple (XRP) Price Action | Source: Coingecko

However, the 2.7% downsizing on the daily candle reflects the impact of the negative sentiment from the ETF verdict delay. 

While delays remain frustrating, precedent set during BTC and ETH ETF reviews suggests that these procedural steps are part of a slow but advancing approval process.

With positive catalysts from Bitcoin ETF demand and Ethereum’s leadership shuffle still active, XRP price could potentially reclaim $2.50 in the near-term. But, for the optimistic forecast to remain plausible, XRP price must hold firm above the $2.00 mark.