SEC Pushes Back XRP ETF Review Amid Institutional Demand
The U.S. Securities and Exchange Commission (SEC) has delayed its decision on Grayscale’s XRP ETF application, signaling that a final ruling may not come until mid-October.
The SEC had 45 days to review Grayscale’s filing, but it can extend the process up to 240 days, leaving the crypto industry waiting for clarity on the future of XRP ETFs.
Franklin Templeton Joins XRP ETF Competition
Meanwhile, Franklin Templeton, a major asset manager, filed its own spot XRP ETF application, joining firms like Canary Capital, WisdomTree, Bitwise, and 21Shares.
The race for XRP ETF approval follows the success of Bitcoin ETFs, which have quickly amassed over $100 billion in assets. Institutional investors are now pushing for regulated exposure to altcoins, including Ethereum, XRP, and Solana.
XRP Price and Market Sentiment
XRP’s price jumped to $2.19, up nearly 9%, following the ETF developments. While still below its post-election peak of $3.38, XRP has outperformed Bitcoin and Ethereum since Trump’s reelection.
Crypto analysts believe that Trump’s administration is more favorable toward digital asset regulation, raising hopes for faster ETF approvals and reduced SEC enforcement actions.
