Another XRP ETF Delayed. What's SEC Waiting for?

SEC Delays Decision on CoinShares XRP ETF

The U.S. Securities and Exchange Commission (SEC) has postponed its decision on the CoinShares XRP exchange-traded fund (ETF). The Jersey-based digital asset investment firm filed an S-1 form in January to launch a spot-based XRP ETF, which was later publicly announced and officially acknowledged by the agency, initiating the regulatory review process.

The SEC has 240 days to approve such a product after official acknowledgment in the public registry. While this delay doesn't necessarily indicate rejection, the agency typically uses the full review period for ETF filings. Even with a more crypto-friendly administration, early approvals remain uncommon.

Bloomberg reports that most filings have final due dates in late October, suggesting the XRP community should anticipate a potential launch in Q4 2024. However, a slim possibility remains for approval as early as July.

Despite the postponement, Polymarket users and industry observers widely expect the SEC to approve spot-based XRP ETFs later this year. Notably, Volatility Shares has already launched a futures-based XRP ETF earlier this week.