SEC Delays XRP, SOL, LTC, ADA, DOGE ETFs But Franklin Templeton Files for XRP ETF Anyway

The US Securities and Exchange Commission (SEC) has again delayed its decision on several cryptocurrency spot exchange-traded funds (ETFs) as Franklin Templeton files for its own XRP ETF.

Potential ETF approvals have been pushed back until May 2025 for:

• VanEck Spot Solana ETF - 19 May 2025
• Canary Spot Litecoin ETF - 13 May 2025
• Canary Spot Solana ETF - 19 May 2025
• Canary Spot XRP ETF - 22 May 2025
• Canary Spot ADA ETF - 29 May 2025
• Grayscale Spot XRP ETF - 22 May 2025
• Grayscale Spot Dogecoin ETF - 21 May 2025

The SEC has extended its review process, citing the need for further evaluation, and has the authority to extend decision deadlines if necessary.

These delays come as the SEC announced a series of roundtables to discuss regulatory concerns in the crypto space. The first event, titled “How We Got Here and How We Get Out – Defining Security Status,” is scheduled for March 21, 2025, at the SEC’s headquarters in Washington, D.C.

Led by SEC Commissioner Hester Peirce, the public forum will explore key topics such as the classification of crypto assets, the regulatory frameworks that should be applied, and potential enforcement mechanisms.

Meanwhile, Franklin Templeton has filed an application for a spot XRP ETF with the SEC. "The Franklin XRP ETF series of the Trust (the “Fund”) issues shares (“Shares”) representing fractional undivided beneficial interests in its net assets. The assets of the Fund consist primarily of XRP held by a custodian on behalf of the Fund. The Fund seeks to reflect generally the performance of the price of XRP," the $1.6 trillion asset manager said in its filing.

XRP's price briefly jumped more than 10% following the news to $2.25 but has since fallen back to $2.16. The token is down almost 10% over the week.