Several significant events have unfolded in the cryptocurrency sphere lately, including the delay in the XRP ETF filing, a major Spanish bank's endorsement of Bitcoin, and a new token launch from Coinbase.
SEC Delays Decision on XRP ETF
The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Franklin Templeton's XRP ETF application. Initially set for May 3, the deadline was extended to June 17 and then to late July. The SEC has requested public comments before making a final decision, which should not be seen as a sign of disapproval but rather as part of the due diligence process. Franklin Templeton submitted its application in early March and is the largest firm to file for a spot XRP ETF. Other major players like Bitwise and 21Shares have also submitted competing applications.
BBVA Endorses Bitcoin Investment
Spanish bank BBVA has started advising its wealthy clients to invest in Bitcoin and Ethereum based on their risk tolerance. According to Philippe Meyer, head of Digital & Blockchain Solutions at BBVA Switzerland, the bank has been providing advice on Bitcoin since September of last year. This marks a significant shift as BBVA is one of the first major banks to actively promote cryptocurrency investments rather than merely tolerating their presence. BBVA manages around $700 billion in assets and serves approximately 80 million customers worldwide.
Coinbase Introduces New Ethereum-based Token
Coinbase has announced the listing of a new Ethereum-based token called Spark (SPK), which is now available on the exchange and in mobile apps. The token is labeled as 'Experimental'. The exchange plans to support Spark perpetual futures on Coinbase International Exchange and Coinbase Advanced, with SPK-PERP markets launched on June 19, 2025. Additionally, Coinbase has recently added support for other Ethereum-based tokens, including PancakeSwap (CAKE), Lagrange (LA), and Ethena (ENA).
These developments underscore the growing legitimacy of cryptocurrencies in the financial world, with regulatory delays, major bank endorsements, and new market offerings from exchanges like Coinbase.
