The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Grayscale's application to launch an XRP exchange-traded fund (ETF), citing the need for more time for review. The process could take up to 240 days, with the initial deadline being May 21, but it could extend to next October.
Meanwhile, investment firm Franklin Templeton has filed an application to launch an XRP ETF, joining other companies interested in the same product. If approved, the fund will trade on the Cboe BZX exchange, while Coinbase Custody will handle custody of the assets.
This interest in XRP ETFs coincides with the remarkable success of Bitcoin ETFs, which currently manage over $100 billion in assets. This success has contributed to increased optimism about the possibility of further cryptocurrency ETFs being approved.
For his part, Ripple CEO Brad Garlinghouse believes it's only a matter of time before the Ripple ETF is approved in the United States, amid ongoing speculation about the regulatory decision.
