The U.S. Securities and Exchange Commission (SEC) has announced a delay in its decision regarding Franklin Templeton's ETF based on XRP until November 14.
Information on ETF Application
Franklin Templeton, managing over $1.5 trillion in assets, submitted its application for an XRP ETF in early March. The aim of this ETF is to expand investor access to one of the largest digital currencies outside of Bitcoin and Ethereum.
SEC's Approach to Crypto Products
This recent postponement follows a series of similar delays by the SEC. Earlier this week, the agency also pushed back its review of Bitwise's Dogecoin ETF application. The regulator continues to weigh several other crypto-related products, including staking-based funds.
Prospects for New ETF Approvals
With approaching deadlines for multiple applications, public attention is focused on whether the SEC will eventually approve a wave of new altcoin ETFs in the coming months. The series of delays highlights the regulator's cautious stance, even as demand from asset managers and investors grows.
The SEC's decision on the XRP ETF will be significant for the integration of XRP into traditional financial markets, but a series of delays indicates the regulator's caution regarding cryptocurrency assets.
