The U.S. Securities and Exchange Commission (SEC) has delayed its decision on the XRP exchange-traded fund filing (ETF) that was submitted by $1.5 trillion investment giant Franklin Templeton.
As reported by U.Today, Franklin Templeton filed to launch such a product in March shortly after submitting a similar filing for a Solana ETF.
Franklin Templeton is the biggest player to join the XRP ETF race so far.
BlackRock and Fidelity have so far remained on the sidelines. That said, some believe that they will become part of the race as well.
In the meantime, ProShares recently revealed that it is now targeting May 14 for the launch of its futures-based XRP ETFs after several media outlets mistakenly reported that they had received the green light from the SEC to go live on Apr. 30.
The delay comes after pro-crypto libertarian Paul Atkins officially took the reins of the SEC earlier this month after sailing through the confirmation process in the Senate.
As reported by U.Today, the SEC also extended the review period for several other spot XRP filings from such firms as Bitwise and Grayscale when the agency was spearheaded by former Acting Chair Mark Uyeda.
The SEC is supposed to issue its final decision within 240 days from the publication of an ETF proposal in the Federal Register.
