SEC Delays XRP Spot ETF Approval, Potential Impact on Institutional Investors Looms

The U.S. Securities and Exchange Commission (SEC) has delayed its decision on Franklin Templeton’s spot XRP ETF application, adding uncertainty to the market. The delay, expected to last until mid-October, comes after a similar pattern observed in Bitcoin and Ethereum ETF approvals, where regulatory bodies typically take extended time for evaluation. This action may influence investor sentiment and institutional investments as market confidence remains uncertain. Ripple Labs and Franklin Templeton are at the forefront of this case, facing scrutiny from the SEC amidst ongoing legal considerations related to Ripple.