Key dishes to remember
- The Sec has extended the Franklin Templeton SPOT XRP ETF exam period to June 17, 2025.
- Various asset managers like Grayscale and Bitwise also seek approval of XRP -based products.
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The United States SEC has extended the calendar for the moment when it stabilizes on the XRP ETF Spot of Franklin Templeton, with the new decision date set for June 17, 2025, according to a newly published opinion.
The securities regulator said they needed additional time to assess the change of rule proposed deposited by CBOE BZX Exchange to register and exchange the actions of the FNB, also known as Franklin XRP FUND.
The request, initially filed on March 13, was published in the Federal Register on March 19, with an initial examination period of 45 days which will expire on May 3, 2025.
“The Commission deems appropriate to appoint a longer period in which to take measures on the change of proposed rule so that it has enough time to consider the change of rule proposed and the questions raised there,” said the dry in its file.
Franklin Templeton, who manages more than $ 1.5 billion in customer assets, submitted his S-1 recording form to the dry last month. The company joins other asset managers such as Grayscale, Bitwise, 21Shares and Wisdomtree to request the approval of investment products based on XRP.
XRP, the fourth largest cryptographic asset by market capitalization, was negotiated at around $ 2.3 at the time of the press, showing an increase of 7% in the last seven days, according to Coigecko data.
On Tuesday, the SEC also delayed decisions on other ETF Crypto applications, including the Fidelity ETF ETF spot with staging characteristics, Bitwise’s Spot Dogecoin ETF and Spot ETF from Franklin Solana.
The DSA’s decision to postpone its decision can frustrate certain investors, but it follows a familiar model. The examination process is often in several phases and designed to respond to regulatory concerns, collect additional data and invite public comments.
Bloomberg Intelligence analyst James Seyffart previously described the delay as a “standard procedure” and said that he has no impact on the overall chances of approval. He noted that the final deadlines for the decisions on these FNBs do not arrive before October.
Yes, the dry has just played on a bunch of depots ETF Alt Coin, including Litecoin, Solana, XRP & Doge. It is planned because it is the standard procedure and that ATKINS has not even been confirmed yet. This does not change our chances of approval (relatively high). Also note that the end deadlines …
– James Seyffart (@jseyff) March 11, 2025
His colleague, Eric Balchunas, also underlined in a recent declaration that similar delays have occurred with the approval of Bitcoin and Ether. In these cases, reports were part of the regulatory process and did not prevent possible approval.
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