XRP ETF decision delayed to June 17 as SEC keeps crypto market guessing

SEC delayed decision on Franklin Templeton spot XRP ETF until June.
Bloomberg’s odds of U.S. spot XRP ETF approval were at 85%.

The U.S. Securities and Exchange Commission (SEC) has delayed a decision on several crypto ETFs (exchange-traded funds), including spot Dogecoin [DOGE] and XRP ETFs.

The agency pushed Franklin Templeton’s spot XRP and SOL ETF decision to the 17th of June.

Source: SEC (Excerpt on Franklin’s XRP ETF delay)

Bitwise’s DOGE ETF and Grayscale’s HBAR ETF applications faced similar delays. Bloomberg ETF analyst James Seyffart said the delays were “expected” and maintained the main deadline was in October.

“I am expecting more delays today or at least this week on some Solana and Hedera/HBAR ETF filings. This is expected IMO. Final deadlines for most of this stuff is in October 2025 or later.”

In fact, another DOGE ETF submission by Grayscale was put on the burner in February.

Bloomberg spot XRP ETF odds at 85%

In addition, staking and in-kind creation and redemption applications by Franklin Templeton, Fidelity, and Invesco Galaxy were pushed to later dates.

However, ETF Store’s Nate Geraci said,

“I still think all (altcoin ETFs, staking, and in-kind creations/redemption) will be approved this year.”

Bloomberg’s Eric Balchunas struck a similar optimistic tone. He reiterated that all the applications had a ‘good chance’ of approval.

According to Bloomberg, Solana [SOL], Litecoin [LTC], and crypto ETF index funds had 90% approval odds. XRP, Hedera [HBAR], and DOGE ETFs had 80%-85% odds of SEC greenlight.

For Avalanche [AVAX], Polkadot [DOT], and Cardano [ADA], the trio’s approval outlook stood at 75%.

Source: Bloomberg

For his part, the finance lawyer and crypto investor Scott Johnson projected that approvals would likely begin in June or July, right around the XRP ETF’s next deadline.

“Party starts end of June/early July. Avalanche of approvals after.”

That said, Santiment revealed that one of the largest whale wallet cohorts, with 100 million- 1 billion XRP coins (yellow), scooped over 1 billion tokens in the past two days. It increased holdings from 8.16B to 9.16B tokens.