SEC Delays Decision on Franklin Templeton's XRP ETF Amid Growing Crypto ETF Momentum

The U.S. Securities and Exchange Commission (SEC) has postponed its decision on the XRP exchange-traded fund (ETF) proposal submitted by Franklin Templeton, the $1.5 trillion asset management giant. The filing, originally made in March, marks the largest institutional move yet in the XRP ETF race, following Franklin Templeton’s earlier bid to launch a Solana ETF.

While BlackRock and Fidelity have yet to submit XRP ETF filings, analysts speculate their entry is likely as institutional interest in crypto ETFs accelerates. In contrast, ProShares has announced May 14 as the target date for launching its futures-based XRP ETFs, despite earlier confusion suggesting an April 30 approval.

The SEC’s delay follows the recent appointment of pro-crypto libertarian Paul Atkins as SEC Chair. His leadership shift comes at a pivotal moment, with several digital asset ETF filings still under review, including those from Bitwise and Grayscale. These were originally submitted during Mark Uyeda’s tenure as acting chair.

Under current rules, the SEC has 240 days from a filing’s publication in the Federal Register to make a final decision. According to Bloomberg, the agency is expected to deliver rulings on multiple crypto-related ETFs in Q4 2025, including spot XRP ETFs, likely around mid-October.

In related developments, the SEC also extended its review period for Bitwise’s proposed Dogecoin ETF and Fidelity’s updated filing to allow staking in its spot Ethereum ETF. These delays signal the SEC's cautious approach as it faces mounting pressure to clarify its stance on digital asset products amid rising institutional demand.