SEC Pushes Back on XRP ETF Approval, Impacting Market Expectations

The Securities and Exchange Commission (SEC) has postponed its decision on applications for spot-based exchange-traded products for Ripple’s XRP cryptocurrency. This move is impacting market expectations as approvals hang in the balance due to the ongoing legal battle between Ripple and the SEC regarding XRP’s classification. Applications from firms like Bitwise Invest and CoinShares are facing delays, mirroring similar scenarios with other crypto ETFs.