SEC Delays Decision on Franklin XRP ETF, Pushing Approval Timeline Back to November

Market Context

XRP ETF applications have been under SEC consideration for several months; Ripple’s legal status was partially clarified following Ripple’s court case win, reducing regulatory uncertainty. Institutional interest continues to build, with many market participants seeing the ETF route as a key to wider regulatory legitimacy and capital inflows. However, delays like this underscore persistent regulatory caution.
 

Technical Details with Attribution

• The Franklin XRP ETF application, filed in March 2025, was initially postponed in April and then entered proceedings in June to decide whether to approve or reject it. 180 days from the filing would have placed a decision by September 15.
• On September 10, the SEC formally extended the decision deadline by 60 days, pushing it to November 14, 2025.
• Other XRP ETF applications have deadlines in October—so this extension specifically impacts Franklin’s case more than others.
• Price-wise, XRP briefly rose above $3.00 with little long-term movement; the market seems to be absorbing the delay without panic.
   

Analyst Perspectives

Analysts see the delay as a setback but not necessarily a derailment. Many interpret the extension as part of due regulatory process rather than a negative signal. Some caution that multiple delays could erode investor confidence if approvals don’t happen, while others believe the high probability (>90% in some predictions) of some XRP ETF approval by year-end still holds.

Global Impact Note

An eventual approval of an XRP spot ETF could have meaningful global consequences—including increased institutional exposure, more regulated investment access, and further integration of XRP into mainstream financial products. Regulatory decisions in the U.S. often ripple outward, shaping expectations and policies in other jurisdictions considering digital asset regulation.