Spot XRP ETFs Stuck In Limbo: SEC Delays All 5 Proposals
The US Securities and Change Fee on Monday, August 18, 2025, pushed again selections on all 5 pending spot XRP exchange-traded fund proposals, designating longer assessment intervals and resetting closing motion dates into October. In separate “Discover of Designation of a Longer Interval” orders, the Fee cited the necessity for extra time to guage the filings following the establishment of proceedings beneath Part 19(b)(2)(B) of the Change Act. In the usual phrasing repeated throughout the orders, the SEC wrote that it “finds it acceptable to designate an extended interval” so it has enough time to think about the proposed rule modifications and the problems raised by commenters.
Spot XRP ETF Selections Pushed Again By SEC
The 5 proposals span three itemizing venues and now carry staggered October deadlines. NYSE Arca’s submitting to checklist the Grayscale XRP Belief faces the earliest exterior date: the SEC set October 18, 2025, because the Fee’s choice deadline after noting that the 180-day clock from the February 20 Federal Register discover would have expired on August 19. The order, issued by the Division of Buying and selling and Markets beneath delegated authority and signed by Secretary Vanessa A. Countryman, extends that window the extra 60 days permitted by statute.
Cboe BZX’s utility to checklist the 21Shares Core XRP Belief follows a day in a while the calendar: the Fee designated October 19, 2025, because the date by which it should both approve or disapprove, explaining that the unique 180-day interval from the February 21 discover concluded on August 20. The identical order reiterates Part 19(b)(2)’s framework—180 days after publication, extendable as soon as by as much as 60 days with causes printed—which the SEC invoked right here.
Bitwise’s spot XRP ETF proposal, additionally at Cboe BZX, now carries an October 22, 2025 motion date. The Fee’s order notes the submitting’s February 24 publication, the initiation of proceedings in Could, and the choice to “prolong the time interval for approving or disapproving” by the complete 60 days.Two proposals share the newest deadline. Nasdaq’s utility to checklist the CoinShares XRP ETF and Cboe BZX’s submitting for the Canary XRP Belief have been every prolonged to October 23, 2025. In each orders, the SEC recites the identical procedural posture—publication in late February, the Could establishment of proceedings, and the extra 60-day designation on the finish of the 240-day statutory most.
Throughout the 5 orders, the authorized mechanics are similar. After a proposed trade rule change is observed within the Federal Register, the Fee should act inside 45 days, which can be prolonged as much as 90 days or, if proceedings are instituted, inside 180 days of publication; that 180-day interval might be prolonged as soon as by as much as 60 days with causes said. Every delay order right here explicitly cites Part 19(b)(2), recounts the publication date that began the clock, after which units the brand new outer deadline. As one order places it, the Fee is “extending the time interval for approving or disapproving the proposed rule change for a further 60 days.”
Whereas the substance of the Fee’s excellent questions isn’t adjudicated in these delay notices, the filings themselves and prior SEC proceedings point out the acquainted set of points for spot crypto commodity-trust listings: the sufficiency of surveillance-sharing preparations with “markets of serious dimension,” the reliability and representativeness of reference pricing, and the remedy of custody and creation/redemption mechanics. These questions have been formally teed up when the SEC instituted proceedings on every file in Could, a prerequisite to Monday’s clock extensions.
At press time, XRP traded at $3.02.