SEC Hits Snooze on Franklin Templeton’s Spot XRP ETF

The SEC is giving Franklin Templeton’s spot XRP ETF proposal another look, pushing the clock until June 17, 2025. The wait, declared via formal notice, is pretty standard for the SEC, especially when it comes to crypto-linked investments. [SEC’s official statement](https://www.sec.gov).

### Franklin Templeton Eyes XRP ETF

Franklin Templeton manages over $1.5 trillion in assets. They filed for their XRP ETF on March 13. With plans to list on the Cboe BZX Exchange, this offering would let folks invest in XRP without holding the actual token. That’s a big win for XRP enthusiasts. The SEC, however, decided it needs more time to mull it over, pushing the original May 3 deadline.

### Ripple Community Eagerly Awaits

Ripple fans are on edge. This ETF could usher in broader institutional adoption. The backdrop? Ongoing chatter over Ripple’s legal battles and XRP lawsuit news. While the regulatory climate remains murky, hopes are pinned on SEC Chair Paul Atkins, known for his crypto-friendly stance.

XRP Holds Steady Despite Regulatory Limbo

Even as the SEC plays the waiting game, XRP’s price proves tougher than a New York winter. It’s been holding ground at around $2.29, with modest gains despite trading volume dropping over 46% to $2.64 billion. Market whispers credit this to overall market stability and optimistic vibes from prior futures-based ETF developments. Still, patience is thin—if the SEC drags its feet, investor interest might dwindle. [Market Data Source](https://bravenewcoin.com/).

### Other Crypto ETFs in the Wings

Franklin Templeton isn’t the lone ranger. The SEC is also taking its sweet time with other crypto ETFs. Think Grayscale’s Ethereum option, Bitwise’s Dogecoin, and Franklin’s Solana ETF. Analysts like James Seyffart and Eric Balchunas see these delays as par for the course.

> “These delays are part of the process. Final deadlines for most of these filings don’t arrive until the fall,” says Seyffart.

Expect final calls on these ETFs in the fall, within the SEC’s 240-day review frame.

Ripple’s Global Play Amid U.S. Hurdles

Ripple Labs, led by CEO Brad Garlinghouse, is navigating tricky waters. They’re scoring global wins, like Brazil approving a spot XRP ETF by Hashdex—even as the U.S. regulator hesitates. [Hashdex ETF Source](https://stellar.expert/).

Ripple’s pushing the envelope with cross-border solutions in partnerships, such as those with banks like Bank of America. Yet, regulatory limbo in the States hangs over these ventures like a raincloud in the forecast.

### What Lies Ahead

As the June 17 deadline creeps up, all eyes are on regulatory shifts and XRP’s price trajectory. A nod from the SEC could be a game-changer, unlocking institutional cash flow and pivoting the whole XRP legal narrative. Until then, Ripple’s journey is like a Broadway show—full of suspense and high stakes.

Market Summary Table

Stay tuned and keep your thumb on the pulse; in the world of crypto, things change faster than a yellow cab in traffic!