- Franklin Templeton’s XRP ETF decision delayed by SEC.
- Spot XRP and SOL ETFs to be listed on Cboe BZX.
- Market sentiment remains cautious amid ongoing regulatory reviews.
Franklin Templeton’s proposed spot XRP ETF decision has been delayed by the SEC, enabling public comment on the matter, as communicated in official filings.
The delay signifies ongoing scrutiny for crypto ETFs, affecting market optimism and institutional investment strategies in digital assets.
SEC’s Review Process
The Securities and Exchange Commission (SEC) has opted to delay its decision on Franklin Templeton‘s proposed spot XRP and Solana ETFs, seeking public feedback.
Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved. Rather, the Commission seeks and encourages interested persons to provide comments on the proposed rule change.
– SEC Official, US Securities and Exchange Commission
Franklin Templeton, a renowned global asset manager, aims to offer institutional-grade crypto investment products. The Cboe BZX Exchange is slated to list these ETFs, pending the SEC’s final decision post-public comments.
Impact on Market
The SEC’s action postpones U.S. institutional access to the proposed XRP and SOL ETFs. Investor interest remains robust, similar to the response after Bitcoin and Ethereum ETF launches.
Market reactions indicate a cautious stance, with no sudden on-chain shifts detected for XRP or SOL. Investors are closely watching regulatory outcomes before making significant moves.
Expectations Moving Forward
Analysts expect potential regulatory challenges to ongoing crypto ETF approvals, given legal complexities surrounding XRP. Historical ETF approval trends suggest increased market activity post-approval.
