The U.S. Securities and Exchange Commission (SEC) is seeking opinions on Franklin Templeton's proposals for Ripple (XRP) and Solana (SOL) ETFs.

CN
6 hours ago

The U.S. Securities and Exchange Commission (SEC) has publicly solicited opinions on two cryptocurrency exchange-traded funds (ETFs) proposed by asset management company Franklin Templeton, which plan to be listed on the Cboe BZX Exchange.

In two separate documents released on Tuesday (June 17), the SEC stated that it has initiated proceedings that may allow U.S. exchanges to list and trade shares of the Franklin XRP ETF and the Franklin Solana ETF. The Cboe BZX Exchange submitted a rule change proposal to the SEC in March to allow the approval of this investment vehicle, but the regulator delayed its decision in April, extending the deadline to this Tuesday.

The SEC noted in these documents: "The initiation of proceedings does not indicate that the Commission has reached any conclusions on the issues involved. Instead, the Commission seeks and encourages interested persons to provide comments on the proposed rule changes."

Following the publication in the Federal Register, the SEC's notice will effectively delay the decision on whether to approve or disapprove the Franklin Templeton ETFs by 35 days, until July. Although U.S. regulators have already approved spot investment vehicles for Bitcoin (BTC) and Ethereum (ETH), many companies are still competing to be the first to launch ETFs related to tokens like XRP and Solana (SOL).

Several asset management companies that have submitted listing applications to U.S. exchanges have filed applications with the SEC for investment vehicles related to SOL or XRP, including Bitwise, ProShares, and 21Shares. Under the Trump administration and the leadership of SEC Chairman Paul Atkins, who was nominated by the president, the SEC's approach to regulating digital assets has undergone a fundamental change, abandoning some high-profile enforcement actions against cryptocurrency companies.

It remains unclear whether this approach to digital assets will extend to ETFs related to XRP or Solana. However, Trump had proposed including these two assets as part of his U.S. cryptocurrency reserve program.

Related: ETF applications are set to surge in 2025, igniting hopes for a "altcoin summer."

Original: “SEC Seeks Comments on Franklin Templeton's XRP and Solana ETF Proposals”

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