The American stock market watchdog SEC has again decided to postpone the judgment about a spot XRP ETF. The proposal for asset manager Franklin Templeton has thus been postponed for the second time. In the meantime, Canada is launching the first Spot XRP fund of North America.
XRP ETFs continue to wait for approval
Franklin Templeton submitted an application in March for a Spot Exchange-Traded Fund (ETF) based on XRP. The original deadline in May was postponed until 17 June, but has now been shifted again. The SEC uses the possibility to extend the assessment period if more time is needed for a careful analysis.
With a managed capacity of more than 1,400 billion dollars, Franklin Templeton is a heavyweight, but certainly not the only player in the race. Grayscale wants to transform its existing XRP Trust into a fully -fledged ETF and Proshares also has an application, with a decision date on 25 June.
It is striking that the SEC on the same day also postponed the decision on the Spot Solana (SOL) ETF, also requested by Franklin Templeton. This indicates that the regulator does not want to approve any other crypto ETFs for the time being.
Canada leads the way with Spot XRP Fund
Remarkably, something is historic in neighboring Canada. The first spot XRP ETF of North America will be launched there on 18 June. The fund, published by Purpose Investments, is noted on the Toronto Stock Exchange. Permission came from the Ontario Securities Commission (OSC).
This gives investors direct exposure to XRP, without having to manage a wallet themselves. It shows how Canada responds faster to the need for regulated crypto investments than the United States.
Source: https://newsbit.nl/sec-stelt-xrp-etf-van-franklin-templeton-opnieuw-uit/
