The U.S. Securities and Exchange Commission (SEC) has extended the review period for the Solana and XRP ETF applications from Franklin Templeton.
Review of ETF Applications
The SEC has decided to extend the review period for the spot ETFs Solana and XRP from Franklin Templeton. Initially, a decision was expected by June 17, but the agency chose otherwise. According to an amended filing, ProShares has set a new decision deadline of June 25, 2025.
Community Reaction
The crypto community is questioning whether the SEC will also delay a decision on ProShares’ Solana and XRP ETF applications. Public comments on these applications can be submitted until late July 2025, which may imply delays in ETF approvals.
Expectations for ETF Approval
Despite the negative decision, the market still expects these ETFs to be approved in 2025. According to data from Polymarket, the chances of Solana ETF approval stand at 91%, while the potential launch of a spot XRP ETF is pegged at 89%.
The SEC's extension of the review period emphasizes the complexity of regulating cryptocurrency assets and the market's ongoing expectations regarding the approval of Solana and XRP ETFs.
