SEC Delays Spot XRP ETF Decision; BBVA Backs BTC/ETH; Coinbase Lists SPK
The SEC has postponed its decision on Franklin Templeton’s spot XRP ETF from June 17 to late July and opened a public comment period. Franklin Templeton, the largest filer, joins Bitwise and 21Shares in the race for a spot XRP ETF. Meanwhile, BBVA now advises high-net-worth clients to allocate 3–7% of their portfolios to Bitcoin and Ethereum, with BBVA Switzerland offering crypto guidance since September 2024. On June 19, Coinbase added the Ethereum-based Spark token (SPK) as “Experimental” and launched SPK perpetual futures on its International and Advanced platforms, following recent listings of PancakeSwap (CAKE), Lagrange (LA) and Ethena (ENA).
Neutral
The SEC’s delay of the spot XRP ETF decision reflects regulatory due diligence rather than rejection, suggesting that approval remains possible and limiting immediate volatility for XRP. BBVA’s recommendation for Bitcoin and Ethereum allocations signals growing institutional adoption, bolstering crypto market confidence but with indirect impact on XRP prices. Coinbase’s listing of Spark (SPK) and its perpetual futures highlights continued platform innovation, though its effect is confined to the SPK token. Taken together, these developments are unlikely to drive sharp XRP price moves in the short term, resulting in a neutral market impact, while maintaining the potential for positive long-term momentum if ETF approvals proceed.