US SEC delays Grayscale XRP ETF decision

Grayscale’s request for a fund translated on the XRP exchange has been postponed by the American Securities and Exchange commission, which cited the need for more time to examine the proposal.

According to a second notice Published on March 11, the next deadline was transferred to May 21 by the extension of the regulator, although a final decision was taken until mid-October. SEC recognized the ETF XRP application in gray levels in February after being initially subject in January.

The company’s offer was the first undulation (Xrp) Proposal of the FNB that the regulator recognized. The Canari capital, Sisdomtree, Bit, Coinshares and the 21 days are among the other asset managers who applied, suggesting an increasing interest in institutional investment products associated with XRP.

In the meantime, Franklin Templeton has entered the race by deposit As S-1 with the SEC on March 11 to establish the Franklin XRP Trust. If it is authorized, Coinbase police custody will act as an ETF goalkeeper and he will exchange the CBOE BZX exchange.

The upwards ETF fillings follow the success of the ETF Bitcoin Spot, which manage $ 95 billion in March 12, as Coinglass shows data. According to the initiates of the industry, the growing number of ETF records is the result of a greater trend to provide investors with regulated substitutes for conventional digital asset investments.

Many believe that these FNBs are an essential step in improving market transparency and protecting investors. The dry is still wary despite the tip of the deposits. In the past, the dry has been ebbing To approve ETF based on crypto, citing concerns about regulatory uncertainty and market manipulation.

However, according to Bloomberg analysts, Eric Balchunas and James Seyffart, the ETF XRP are 65 to 75% of them to be approved in 2025. The feeling of the market is also optimistic. In the Paris Polymarket Cryptocurrency Paris platform, the bettors have currently placed the odds approval at around 72%, indicating confidence in a positive result.

Investors are now waiting for more information, many of which expect a more transparent regulatory environment will open new ways to invest in the space of digital assets.