XRP ETF Approval Decision Expected by September

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Will the SEC Finally Let XRP Out of Its Cage? 🐉💰

Ah, the long and winding road of the XRP Exchange-Traded Fund (ETF) has taken yet another twist. The U.S. Securities and Exchange Commission (SEC), in a move that can only be described as “seriously serious,” has officially embarked on a formal process to decide the fate of the proposed Franklin XRP ETF. Who knew finance could be so dramatic? 🎭

Mark your calendars, dear readers! A final decision is expected by September 9, 2025 — a date that will surely be remembered in the annals of financial history, right next to the invention of the abacus.

The Grand Formal Process Has Begun

The proposal, filed by the illustrious Cboe BZX Exchange, aims to allow Franklin Templeton to launch an ETF that holds actual XRP. Yes, you heard it right! Just like those Bitcoin ETFs that hold the real deal, this one promises to hold physical XRP. What a time to be alive! 🥳

In a twist that would make any suspense novelist proud, the ETF plans to use Coinbase Custody Trust to store the tokens, while the price would track the CF Benchmark CME XRP-Dollar Index. It will be listed under Cboe’s BZX Exchange, following the same rules as other commodity-based trusts. Because, you know, rules are important. 📜

SEC’s Countdown to Decision Day

But before we pop the champagne, the SEC wants to take a closer look. They’ve entered the “Order Instituting Proceedings” phase, which sounds fancy but is basically a formal investigation. Think of it as the SEC putting on its detective hat and magnifying glass. 🕵️‍♂️

Now, the SEC is gathering opinions and data to answer some rather pressing questions: Will this XRP ETF protect investors? Can it prevent market manipulation? And, most importantly, does it meet the standards of the law? Because who doesn’t love a good legal debate? 🤔

The review process kicked off back in March 2025, and the next major date is September 9, 2025. By then, the SEC will likely reach a decision, either giving the ETF a thumbs up or a big ol’ thumbs down.

Public Comments: The More, the Merrier!

In a surprising twist, the SEC is now actively asking the public for comments. They’re particularly interested in whether the XRP market is mature enough to handle an ETF without price manipulation or unfair trading practices. Because, you know, fairness is key in the wild world of finance. 🏦

For now, all eyes are on September. If the SEC gives the green light, it could mark a monumental milestone for XRP. Or, it could just be another day in the life of a cryptocurrency. Who knows? 🤷‍♂️

As of now, XRP is trading around $2.12, reflecting a rise of 4.14% seen in the last 24 hours. So, keep your fingers crossed and your wallets ready!

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2025-06-18 16:53