- SEC postpones spot XRP ETF decision to 2025.
- Grayscale’s fund still awaits final approval.
- Existing U.S. XRP ETFs are leveraged, not spot.
The delay affects potential market liquidity and investor interest, with broader implications for other cryptocurrencies that could qualify under similar future ETF listing rules.
The anticipated launch of a spot XRP ETF in the U.S. will not take place this month. A review by the U.S. Securities and Exchange Commission extends any decision to September or October 2025.
Involved parties include the SEC, Franklin Templeton, and ProShares. Applications from these entities remain under scrutiny, with Commissioner Hester Peirce highlighting the necessity for further research.
The delay impacts investors awaiting direct spot ETF products. Such products could set precedent for other cryptocurrencies. The ProShares Ultra XRP ETF remains the only U.S.-approved XRP investment vehicle, offering leveraged exposure.
Financial implications include halted direct investments in spot-focused ETFs. Bloomberg analysts estimate a 95% probability of eventual approval, contingent on SEC guidelines and judicial clearances.
Current market dynamics are likely influenced by the SEC’s decision-making timeframe. The extension affects not only XRP but other cryptocurrencies with significant U.S.-regulated futures activity, such as BTC and ETH.
“Review period extensions are not rejections” — evaluation is ongoing to ensure market readiness and regulatory compliance, said SEC Commissioner Hester Peirce. Historical trends show previous crypto ETF approvals required judicial interventions. The SEC now aims for a streamlined process for assets with active futures trading. Canadian markets, already hosting spot XRP ETFs, could inform potential volume effects.
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