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The U.S. Securities and Exchange Commission (SEC) has pushed back its decision on Franklin Templeton’s highly anticipated spot XRP exchange-traded fund (ETF). According to reports, the SEC has pushed the ETF review to 2 months. This extended Franklin Templeton’s review deadline from September 24 to November 14, 2025. However, while Franklin ETF was pushed, Rex-Osprey received clearance to launch its own XRP ETF, which is expected to start trading today.
The delay of the Franklin Templeton spot XRP ETF is a delay of only 20 days and has people carrying on about delays and the SEC. It is a short delay. It suggests to me the SEC may be close to a final decision on this and other spot XRP ETFs. https://t.co/jdq4HojyDL
— bill morgan (@Belisarius2020) September 12, 2025
While the XRP community had hoped for approval this month, the regulator said it required additional time for a “thorough review.” The 60-day extension mirrors the SEC’s approach to other crypto-related filings this year, with many altcoin ETFs delayed into the fourth quarter.
Still, analysts view the move as procedural rather than a sign of rejection. Bloomberg’s ETF specialists estimate a 95% likelihood that a Ripple-based spot ETF will be approved by the end of the year.
Rex-Osprey’s XRP ETF Approved
Rex-Osprey’s XRP ETF cleared its review with no objections and officially launches today. The fund enjoys a first-mover advantage over other pending applicants such as Franklin Templeton, Bitwise, and Invesco, potentially drawing early institutional inflows. The approval also signals growing regulatory comfort with the framework for XRP-based ETFs.
Recently, Ripple has strengthened its market position. The company recently settled with the SEC for $50 million, removing a longstanding legal overhang. Ripple is also pushing ahead with its RLUSD stablecoin project and has applied for a banking license. Partnerships, including a MasterCard campaign with Gemini that rewards users in XRP.
If Rex-Osprey’s fund performs well in attracting liquidity, it could help in additional approvals later this year. SEC is awaiting other XRP ETF filings, and the deadlines are approaching.
In the last day, XRP has barely moved, trading just above $3. At the time of writing, the asset is trading at $3.04, up 1% in the last 24 hours.
