XRP ETF Review Period Extended: New Decision Date Announced

The SEC postponed its decision on XRP ETF applications, extending the review period for multiple proposals. The regulator announced the delay on March 11, impacting filings from firms like Grayscale, VanEck, 21Shares, and Canary. Officials cited the need for more time to assess the proposals and related issues before reaching a conclusion.

XRP ETF Applications Face New Deadlines

The SEC’s delay affects XRP ETF applications from Grayscale and Canary. The initial 45-day review period was set to expire on April 6, 2025, after the proposed rule change appeared in the Federal Register on February 20. However, the commission extended the deadline, pushing the final decision to May 21, 2025. Canary’s spot XRP ETF will now be reviewed on May 22, while Grayscale’s application faces the same delay. These postponements align with similar extensions for other crypto ETFs.

Besides XRP, the SEC also postponed its rulings on other altcoin ETFs. The review period for Solana (SOL) ETF applications from VanEck, 21Shares, and Canary has been extended. The regulator also delayed the Canary Spot Litecoin ETF decision until May 13, 2025. Similarly, the Grayscale Spot Dogecoin ETF will now receive a decision on May 21, while the Canary Spot ADA ETF remains under review until May 29. These delays highlight the SEC’s cautious approach to crypto investment products.

Other Crypto Proposals Under Review

The SEC also extended its review of Fidelity’s FBTC and FETH proposals regarding in-kind creations and redemptions. BlackRock’s IBIT application remains under consideration, while 21Shares’ request to integrate staking into its Ethereum (ETH) ETF remains unresolved.

Meanwhile, the SEC acknowledged a proposed rule change allowing Nasdaq to list Grayscale’s Hedera Trust shares. The regulator opened a 21-day public comment period before making a final decision.

https://twitter.com/FXCryptoNews/status/1735196829405323748?s=20

Under the proposal, Grayscale would serve as the sponsor, with CSC Delaware Trust Company acting as the trustee and Coinbase Custody Trust Company providing custodial services.

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