SEC Delays Decision on Franklin Templeton’s Spot XRP ETF Filing

The U.S. Securities and Exchange Commission (SEC) has officially delayed its decision on the spot XRP exchange-traded fund (ETF) proposed by $1.4 trillion asset manager Franklin Templeton. Originally expected by May 3, the SEC has pushed the deadline to June 17 as part of routine procedural review.

While the delay may concern XRP investors, it’s seen as a standard part of the regulatory process and not a sign of rejection. Such extensions are typically granted to allow more time for due diligence and do not indicate a negative stance from the SEC.

Franklin Templeton, the largest firm to file for a spot XRP ETF so far, submitted its S-1 filing in March 2025. The firm’s CEO, Jenny Johnson, has expressed strong support for digital assets, stating that crypto represents the future of finance. Other players like Bitwise and 21Shares have also submitted competing applications for XRP ETFs, signaling growing institutional interest.

The delay comes on the same day the SEC postponed a decision on a separate Solana ETF proposal. While industry giants like BlackRock and Fidelity have yet to enter the XRP ETF race, analysts expect their involvement is only a matter of time.

Meanwhile, Canada is taking the lead with Purpose Investments preparing to launch North America's first spot XRP ETF on the Toronto Stock Exchange this week. Market sentiment remains bullish, with prediction platform Polymarket showing high confidence in eventual SEC approval for altcoin ETFs, potentially by late 2025 under SEC Chairman Paul Atkins.

The delay underscores rising momentum for XRP in institutional markets, even as regulatory approval remains pending. Investors continue to watch closely for a breakthrough in the evolving crypto ETF landscape.