SEC Delays Franklin Spot XRP ETF – Hard Deadlines Hit Next Month

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The US Securities and Exchange Commission, in its infinite wisdom, has decided to delay making a decision on Cboe BZX’s groundbreaking proposal to list the Franklin XRP ETF. And not just by a few days-no, they’ve pushed it all the way to November 14, 2025. So, mark your calendars, folks, because that’s when we’ll either be celebrating or drowning our sorrows, depending on which way the SEC swings. This, of course, happens after the Commission has already burned through the full 60-day extension. So, no more wiggle room-this is the final countdown.

Now, why is this so important? Well, as the SEC’s XRP docket enters its dramatic final act, there’s a whole bunch of “endgame” dates clustered together, all demanding a verdict. Under Section 19(b)(2) of the Exchange Act, once proceedings begin on a 19b-4 proposal (and let’s face it, those names are a real party starter), the SEC has up to 180 days to make up its mind. Plus, they can add a single 60-day extension, which they have done here, because who doesn’t love a good deadline? And that’s why the Nov. 14 date is so significant. It’s not just a delay in the everyday sense. No, no. It’s a hard deadline, a ticking clock, a digital guillotine, if you will.

Final Deadlines For Spot XRP ETFs Now Locked In

The XRP train is now fully packed with deadlines, and folks, there’s no more room for the procrastination parade. Bitwise’s BZX filing, for example, is wrapping up its saga on October 22, 2025. That’s when we’ll find out whether they get the SEC’s approval or, you know, get the metaphorical boot.

Then, the very next day-October 23, 2025-Nasdaq’s CoinShares XRP ETF proposal will hit its final curtain call. It’s like a bad sitcom, except there are no reruns. Canary’s separate XRP proposal also hits its limit that day. Coincidence? I think not.

Just before those, there’s another Cboe BZX proposal on the chopping block: the 21Shares Core XRP Trust, which must be decided by October 19, 2025. It’s almost like the SEC is doing a “who can make the biggest decision under the tightest timeline” contest. Spoiler: it’s the SEC, and they’ve won every time.

WisdomTree’s fund rounds out the week on October 24, 2025, after squeezing out the maximum 60-day extension, of course. And let’s not forget Franklin’s November 14 deadline. It’s like a fast-paced reality show, only the contestants are billion-dollar crypto products and the judges are an uncomfortably silent SEC.

And just to make it even more dramatic, NYSE Arca’s Grayscale XRP Trust also has its own looming date-October 18, 2025. This one’s the granddaddy of them all, setting the tone for everything that follows. Will it be a “yes”? Or a soul-crushing “no”? The suspense is unbearable.

So, what exactly is at stake here? Each of these proposals deals with a Rule 19b-4 filing, which is a fancy way of saying that exchanges like Cboe BZX, Nasdaq, and NYSE Arca want to list and trade XRP-based commodity trust ETPs. Fancy, huh?

But here’s the kicker: even if the SEC gives its thumbs-up, trading can’t actually begin until the issuer’s registration statement is effective. The SEC loves to remind us of this little detail, because why make anything easy?

The bottom line is this: the SEC has a date, it has a series of dates, and it has a very packed schedule ahead. There’s no more room to “extend the proceedings,” and as the calendar winds down to the final decisions, we’re all just here, watching, waiting, and hoping that the SEC doesn’t decide to take a nap instead of deciding on these crucial matters.

At press time, XRP is hanging out at $3.00. But who knows how long that will last?

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2025-09-11 16:46