- SEC delay on Canary’s XRP ETF approval.
- Review extended to May 2025.
- XRP price volatility follows announcement.
The delay highlights the SEC’s ongoing cautious approach toward cryptocurrency ETF approvals. XRP experienced significant price movements, with a temporary surge following the announcement, reflecting the market’s focus on regulatory decisions.
The SEC’s extension affects several XRP ETF applications, including those from Grayscale and Bitwise. The regulator cited the need for additional time to evaluate the proposed rule changes and associated issues. Franklin Templeton also filed an S-1 application for an XRP ETF in March 2025.
XRP’s price responded to the news with volatility. It increased by 6% in a 24-hour period and later by another 5.2%. These fluctuations underscore the market’s sensitivity to regulatory developments. Bloomberg analysts suggest a 65% chance of approval for an XRP ETF by 2025, despite the regulatory hurdles that remain.
The latest price data for XRP is currently unavailable, but recent trends show a market buoyed by expectations of further regulatory clarity. Bloomberg’s James Seyffart noted the SEC’s delays are standard practice, given the current status of SEC appointments.
“Yes, the SEC just punted on a bunch of alt coin ETF filings including Litecoin, Solana, XRP & DOGE. It’s expected as this is standard procedure & Atkins hasn’t even been confirmed yet. This doesn’t change our (relatively high) odds of approval. Also note that the final deadlines aren’t until October for these.” — James Seyffart, ETF Analyst, Bloomberg
Expert insights suggest the delay could push companies to adjust their ETF strategies, seeking alternative approval pathways or market-specific adaptations. Regulatory conditions remain a decisive factor in the ultimate approval and success of such ETFs.