The crypto community is again stirred by the SEC's announcement of a delay in the decision regarding the Franklin XRP Spot ETF. This has prompted active discussions among market participants.
SEC Update
On June 17, 2023, the SEC announced a second delay in the ruling on the Franklin XRP Spot ETF, opting not to issue a final verdict. The commission opened formal proceedings and invited public comments, indicating that a final decision will be made only after the public comment period concludes in mid-July.
XRP Community Reactions
The announcement triggered swift discussions within the XRP community. Fox Business journalist Eleanor Terrett reported that the SEC officially opened the floor for public comments, leading to varied responses. Some participants, like Metamitra, viewed the move positively as a sign of increased institutional interest in digital assets. Conversely, another commentator, FrancisBovineSwift, criticized the SEC's slow pace, describing it as problematic regarding XRP-related matters.
Future of Franklin XRP Spot ETF
While the SEC emphasized that a final position has yet to be established, the new delay reflects an ongoing trend in the examination of crypto ETFs. The commission used powers under Section 19(b)(2) of the Securities Exchange Act to further delay its process, stating that it needs to hear public opinion before making definitive conclusions. The SEC will consider submitted feedback before making a ruling, leaving the future of the Franklin XRP Spot ETF in question.
The delay in the decision regarding the Franklin XRP Spot ETF has sparked discussions in the crypto community, highlighting the importance of public opinion in the regulatory decision-making process of the SEC.
