The application of Grassscale for a spot XRP exchange-traded funds has been postponed by the US Securities and Exchange Commission, which cited more time needs to investigate the proposal.
A second Information Published on 11 March, the next time limit has been shifted to the regulator in detail on 21 May, although a final decision cannot be taken until mid -October. The SEC accepted the Grassscale XRP ETF application in February after being introduced in January.
The company’s bid was the first Ripple (XRP) ETF proposal which was accepted by the regulator. Canary Capital, Wisdomantry, Bittwais, Coinshaars, and 21Shares are among the other asset managers who have suggested increasing interest in institutional investment products associated with XRP.
Meanwhile, Franklin Templeton entered the race Admission Franklin as S -1 with SEC on 11 March to install the XRP Trust. If authorized, coinbase will act as custodians of detention ETF and it will trade on the CBOE BZX exchange.
Rising ETF filler spots to follow the success of Spot Bitcoin ETF, which manage $ 95 billion in property by 12 March. dataAccording to the individual sources in the industry, the increasing number of ETF registration is a result of a major trend to provide regulated options to investors for traditional digital asset investment.
Many believe that these ETF markets are an essential step in improving transparency and protecting investors. SEC is still careful despite the spike in the filing. In the past, the SEC regulator is hesitant to approve the Crypto-based ETF, citing concerns about uncertainty and market manipulation.
However, according to Bloomberg’s analysts Eric Balchunas and James Safart, XRP ETF has a possibility of 65–75% of being approved in 2025. The market spirit also remains optimistic. In Cryptocurrency betting platform polymercate, Better is currently placed by Better odds Approval at about 72%indicates confidence in a positive result.
Investors are now waiting for more information, many people hope that a more transparent regulatory environment will open new avenues for investing in digital assets space.
