Ripple News Today: Ripple vs. SEC Continues as Franklin Templeton’s XRP ETF Enters Waiting Game

With Canada preparing to launch North America’s first spot XRP ETF this week, the United States finds itself at a regulatory crossroads—once again caught between innovation and enforcement.

Franklin Templeton, a $1.4 trillion asset management giant, is facing another delay from the SEC on its proposed spot XRP ETF. Initially filed in early March 2025, the application’s decision was expected on May 3, then pushed to June 17. Now, the agency has extended the review period into late July, requesting public comments before making a final determination.

SEC delays Franklin Templeton’s XRP ETF decision. Source: SEC/Gov

In a public filing, the SEC clarified, “Institution of proceedings does not indicate that the Commission has reached any conclusions… Rather, the Commission seeks and encourages interested persons to provide comments.” This standard procedural step is part of the Commission’s due diligence but comes at a time when XRP investors are eagerly awaiting a major regulatory breakthrough.

Bloomberg ETF analyst James Seyffart said the delay wasn’t surprising. “The timeline is unknown,” he noted, “but approvals for altcoin ETFs like Solana and XRP may still happen before the end of the year.”

One of the main obstacles to the ETF’s approval remains the ongoing XRP lawsuit between Ripple and the SEC. The court is expected to issue a critical decision by August 15, 2025. The outcome could play a significant role in determining the regulatory fate of any XRP-related investment product in the U.S., including spot ETFs.

The Ripple lawsuit has been a defining legal battle in the crypto industry, influencing how digital assets are classified and regulated. Ripple CEO Brad Garlinghouse has consistently criticized the SEC’s stance, arguing it stifles innovation and leaves the U.S. trailing behind jurisdictions like Canada and the U.K.

Despite the legal headwinds, optimism lingers. Polymarket data shows an 88% probability that a spot XRP ETF will be approved by the end of 2025—assuming there are no major setbacks in the court.

While the U.S. delays, Canada is charging ahead. On June 18, Purpose Investments will launch the first spot XRP ETF in North America, listing it on the Toronto Stock Exchange. Evolve ETFs is also set to follow suit with its own XRP ETF, marking a regional milestone that showcases Canada’s more progressive regulatory stance.

Purpose Investments will launch the first-ever spot XRP ETF in Canada on June 18, ahead of any similar approval in the U.S. Source: Coin Bureau via X

These developments underscore a growing divide between regulatory strategies. While the SEC Ripple saga continues in the U.S., Canadian regulators have moved swiftly to offer investors exposure to Ripple XRP through traditional financial vehicles.

The XRP ETFs in Canada are expected to provide direct, regulated access to XRP, the native token of the Ripple ledger that facilitates rapid, low-cost cross-border payments. For many investors, this represents a major step in mainstream adoption of Ripple crypto assets.

While the ETF delay has not triggered immediate market volatility, some analysts believe that clarity around regulatory issues—including a potential ETF approval—could be a catalyst for a future rally. A favorable court ruling in the XRP SEC case could clear a key hurdle, allowing U.S.-based ETFs to follow the Canadian lead.

XRP was trading at around $2.16, down 2.79% in the last 24 hours at press time. Source: XRP Liquid Index (XRPLX) via Brave New Coin

The XRP price has remained relatively stable amid the uncertainty, but traders are watching closely for signals that could influence market momentum. A spot ETF approval would not only validate XRP as an investable asset but could also unlock new demand from institutional players, potentially lifting the Ripple market and boosting XRP value.

Franklin Templeton remains the largest player in the XRP ETF race, but competitors like Bitwise and 21Shares are not far behind. With the SEC now opening public comments and extending its timeline, the battle for a spot Ripple exchange product in the U.S. is far from over.

Meanwhile, crypto observers are intently monitoring if the SEC’s shifting leadership under Chair Paul Atkins could make way for a more welcoming attitude toward digital assets. His recent moves, shelving a few enforcement actions, suggest a possible change that may be beneficial to Ripple and other altcoins.

In the broader dynamics of Ripple news, the current game of waiting for ETF approvals is far from merely a regulator’s bottleneck—it is a watershed moment for the way crypto assets like XRP are perceived and integrated into the mainstream of finance.

As Ripple currency price hovers in the balance, the coming months will be crucial not just for the XRP SEC lawsuits but for the future of digital asset investment in the United States as well.