SEC Delays its Decision on XRP ETF

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The SEC has postponed its decision on the XRP Spot ETF until June 17, dampening bullish market expectations. It also delayed rulings on DOGE and Ethereum staking ETFs and may extend them until mid-October.

While the deferral appears bearish, it didn’t significantly impact the market. The Commission has been cautious with precedent-setting decisions, like the Ripple settlement, but might finalize the XRP ETF decision before October.

Currently, the crypto industry is eager for an XRP ETF, causing market confusion with false rumors. Last week, the first such asset began trading in Brazil, boosting optimism.

However, the SEC officially postponed Franklin Templeton’s XRP ETF proposal, tempering enthusiasm. It also delayed Bitwise’s Dogecoin ETF and an Ethereum staking ETF proposal.