The U.S. Securities and Exchange Commission (SEC) has set new deadlines for the review of ETF applications, including those from WisdomTree and Grayscale, with decisions pushed to mid-October.
New Deadlines Approaching
A decision on Grayscale’s proposal is expected on October 18, followed shortly by others from WisdomTree and other issuers. Franklin Templeton’s application is on a separate track, with a verdict likely in November. Analysts suggest that the SEC may repeat its prior strategy from Bitcoin and Ethereum ETFs by approving several XRP funds simultaneously in the coming months.
Amendments Filed
The delays coincide with new amendments filed by several issuers, indicating ongoing dialogue between regulators and asset managers. Grayscale has also resubmitted paperwork for its XRP Trust ETF. Industry observers believe that these tweaks address SEC feedback, although another round of waiting is seemingly inevitable.
Market Context and New ETF Ideas
Despite the news of the delays, XRP's price remained largely unchanged, influenced more by macroeconomic factors. Jerome Powell’s remarks on a potential rate cut lifted the token above $3 last week, only to dip back under $2.95. Meanwhile, the SEC is evaluating new proposals, including one from Canary Capital for a 'Made-in-America' crypto ETF that would focus solely on U.S.-created or operated tokens.
As the SEC faces pressure, October could become a pivotal month for XRP products or further extend the waiting game for investors.
