The U.S. Securities and Exchange Commission (SEC) has delayed its decision on WisdomTree’s XRP ETF again, setting a new deadline for October 24.
New Deadlines for SEC Decisions on ETFs
The SEC has established October 24 as the new decision date for the Cboe BZX application to list and trade fund shares. This means that the decision on all pending spot XRP ETFs, excluding Franklin Templeton, will also be delayed until next month.
Market Reacts to Delays
The first of these final deadlines is set for October 18, when the SEC is due to decide on the Grayscale filing. Analysts believe the regulator might be able to approve all outstanding XRP ETFs at once, similar to Bitcoin and Ethereum ETFs approved earlier this year. Bloomberg analysts have given a 95% chance of approval at some point this year.
New ETF Proposals from Canary Capital
The SEC has also extended the review for other altcoin ETFs. Additionally, U.S.-based digital asset investment firm Canary Capital has submitted a filing to launch the Canary American-Made Crypto ETF, which will track only cryptocurrencies created or mined in the United States.
Thus, the latest SEC delay creates uncertainty in the market, while new ETF applications continue to come in, attracting investor interest.
