The Securities and Exchange Commission (SEC) has extended its review period for Franklin Templeton’s spot XRP ETF to June 17, 2025.
Franklin Templeton’s application for the spot XRP ETF, known as the Franklin XRP Fund, was filed via the Cboe BZX Exchange and entered the Federal Register on March 19.
The SEC, initially expected to decide by May 3, cited the need for more time to assess the proposed rule change and related regulatory concerns.
As the largest asset manager to seek approval for a spot XRP exchange-traded product, Franklin Templeton oversees over $1.5 trillion in assets. This application is part of a growing trend of institutional interest in crypto-based funds, alongside efforts from Grayscale, Bitwise, WisdomTree, and 21Shares.
The SEC highlighted the need for an “extended period” to thoroughly evaluate the proposal, reflecting standard ETF review practices.
