The XRP community was stirred into renewed debate on June 17 after the U.S. Securities and Exchange Commission issued a second delay in its decision on the Franklin XRP Spot ETF. Instead of ruling, the SEC opened formal proceedings and invited public comment, pushing the final verdict further into the summer.
Following an earlier delay in April, the agency has now taken this step after postponing the initial ruling deadline. This new procedural step implies that the application, filed by Cboe BZX Exchange, Inc. on March 13, 2025, will not be processed, at least until the end of the public comment period, which is in mid-late July.
Under Rule 14.11(e)(4), the proposed rule would allow the listing and trading of the Franklin XRP Spot ETF, which falls under Commodity-Based Trust Shares. The SEC has already permitted the creation of ETFs that refer to Bitcoin and Ethereum, but XRP undergoes greater regulatory pressure.
Also Read: Massive Whale Shift and ETF Delay Send Solana Investors Into Panic Mode
Delay Reignites Reactions Across Crypto Community
According to Fox Business journalist Eleanor Terrett, who reported the update on social media, the SEC’s order formally opened the floor for public comments and rebuttals. This triggered swift reactions from the XRP community, which has long accused the agency of dragging its feet on XRP-related matters.
One user, Metamitra, applauded the move, saying it was a sign of increased institutional interest in digital assets. Conversely, another commentator, FrancisBovineSwift, was critical of the SEC’s schedule, saying the regulator’s relaxed speed was a thing of the past in dealing with XRP.
Although the SEC focused on the fact that a final position has yet to be established, the new delay is part of a recurring tendency in the crypto ETF examination process. The Commission has used the power of Section 19(b) (2) of the Securities Exchange Act to further delay its process, stating that it should hear the opinion of the masses before anything definitive can be made.
The SEC will consider submitted feedback before making a ruling. Until then, the future of the Franklin XRP Spot ETF remains uncertain, with market participants closely watching how regulators will respond once the comment period ends in late July.
Also Read: BBVA Advises Wealthy Clients to Allocate 3%–7% of Portfolio to Bitcoin and Ethereum
