The U.S. Securities and Exchange Commission (SEC) has extended the decision timeline for Franklin Templeton’s proposed exchange-traded funds (ETFs) tied to XRP and Solana by 35 days, pushing the deadline to late July. The extension allows additional time to gather public feedback and evaluate the implications of listing ETFs based on these alternative cryptocurrencies.
Franklin Templeton’s filings with the Cboe BZX Exchange highlight growing institutional demand for regulated crypto investment products beyond Bitcoin and Ether. The SEC emphasized that no conclusions have been reached regarding the proposed rule changes needed to list these ETFs, reflecting ongoing regulatory caution.
Under new SEC Chair Paul Atkins, the agency has adopted a more pragmatic regulatory approach, scaling back aggressive enforcement tactics. This shift could influence approval prospects for crypto ETFs, though significant regulatory uncertainties persist around altcoin-based products.
Approval of XRP and Solana ETFs would diversify the cryptocurrency investment landscape by offering regulated exposure to assets with distinct technological use cases. The SEC’s public comment period remains a critical step in the evaluation process, with potential to set precedents for future crypto asset approvals.