XRP News: SEC Postpones Decision on Grayscale XRP ETF Amid Growing Institutional Interest

In a move that has captured the attention of the cryptocurrency community, the U.S. Securities and Exchange Commission (SEC) has postponed its decision on Grayscale’s application for a spot XRP exchange-traded fund (ETF). The postponement, along with the increasing number of institutional applicants for an XRP ETF, suggests a growing interest in XRP among investors.

SEC Postpones Grayscale XRP ETF Decision

Grayscale’s application for a spot XRP exchange-traded fund has been postponed by the U.S. Securities and Exchange Commission (SEC) until May 21, with a final decision potentially coming in mid-October. The SEC cited the need for more time to examine the proposal. Franklin Templeton has also joined the list of applicants for an XRP ETF, alongside Canary Capital, WisdomTree, Bitwise, CoinShares, and 21Shares, suggesting growing institutional interest in XRP-related investment products.

Franklin Templeton Joins XRP ETF Race, SEC Delays Decision on Multiple Crypto Funds

Franklin Templeton has officially filed an S-1 registration form with the SEC to launch an XRP ETF. The firm joins Bitwise, Grayscale, and WisdomTree in the XRP ETFs race. This proposed ETF, under the CBOE BZX Exchange, will give investors access to XRP, which is currently the fourth-largest cryptocurrency by market cap. Coinbase Custody will store the XRP assets, with Coinbase acting as the prime broker. The fund will determine its net asset value using the CME CF XRP-Dollar Reference Rate. Notably, the SEC is still reviewing spot crypto ETFs.

XRPL Gains Momentum in RWA Tokenization as Market Targets $16T

XRPL is accelerating institutional adoption of RWA tokenization. RWA.xyz provides real-time insights into tokenized assets, treasuries, and stablecoins like RLUSD. Institutions are leveraging XRPL for regulated financial assets, enhancing security and efficiency. The tokenization of RWAs is gaining traction, with billions of dollars already on-chain and expected to hit over $16 trillion by 2030. XRPL is driving this revolution by enabling the tokenization of traditional assets, motivated by potential operational efficiency, security, and revenue enhancements.

Franklin Templeton Files for XRP ETF

Franklin Templeton has officially entered the race to launch an XRP ETF, filing with the SEC to create the Franklin Trust. This move follows increased institutional interest in altcoin ETFs, with other major players like Bitwise, Grayscale, and WisdomTree also filing for similar funds. Market confidence is high, with approval projections for altcoins like Dogecoin (75%) and Solana (70%).