The U.S. Securities and Exchange Commission (SEC) has formally opened proceedings to determine whether to approve or disapprove a proposed rule change for the Franklin XRP Spot ETF.
Initiation of Review Proceedings
The SEC has started review proceedings based on the proposal submitted by the Cboe BZX Exchange, aimed at listing and trading shares of the Franklin XRP ETF. This follows a delay established in April 2025, with a new decision date set for June 17, 2025.
Public Comment Period
According to Fox Business, the SEC has officially opened a public comment period inviting input on the Cboe proposal. The deadline for comments and rebuttals is set for late July 2025.
Public Reactions and Regulatory Context
Public reactions to the SEC announcement have been mixed, with some expressing optimism about crypto ETFs' future, while others criticized the prolonged process. The SEC is expected to consider public feedback when making its final decision.
The discussion surrounding the Franklin XRP Spot ETF highlights ongoing interest and scrutiny in the regulation of digital assets and paves the way for future developments.
