SEC Don Set Deadlines for Spot XRP ETF Decisions
On September 11, 2024, di U.S. Securities and Exchange Commission (SEC) formally extend dem review on Franklin Templeton spot XRP ETF application wey dem submit through Cboe BZX Exchange under Rule 14.11(e)(4), dem reset di final decision deadline from November 14, 2024 go November 14, 2025. Dis 60-day extension give SEC extra time to evaluate di legal, market, and compliance palava about di XRP ETF, including concerns about XRP regulatory status and investor protection. Separately, SEC set non-extendable decision dates for some other spot XRP ETF filings wey dem get between October 18 and October 24, 2025: NYSE Arca’s Grayscale XRP Trust (Oct. 18), 21Shares Core XRP Trust (Oct. 19), Bitwise’s BZX proposal (Oct. 22), Nasdaq CoinShares and Canary BZX filings (Oct. 23), and WisdomTree (Oct. 24). Each proposal na Rule 19b-4 exchange rule change under Section 19(b)(2) of Securities Exchange Act; if dem approve am, e go clear one big hurdle for listing, but real trading na still dey wait for effective registration statement. Traders suppose dey track these SEC deadlines well-well: ETF approval fit increase XRP liquidity and access for institutions, but di short time frame for decision and possible rejection fit cause serious XRP price wahala.
Neutral
SEC dem extend di Franklin Templeton spot XRP ETF decishon go November 2025, e mean say ETF go no come out sharp sharp and e comot di open review wey no get end, dis one fit make the price of XRP no too move for short term. But since dem set exact deadline dem for plenti spot XRP ETF files for October 2025, SEC don reduce di kain risk wey concern regulatory matter and e create one clear time wey people for know wetin go happen. Short term effect fit remain neutral because no big movement wey fit start quick quick, but di short three week decision time wey come next year fit cause beta wahala for market and bring more chance to trade around every decision dem go make.