SEC Opens Comment Period for Franklin Templeton’s XRP and Solana ETF Applications

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The SEC has moved forward with reviewing Franklin Templeton’s proposed spot ETFs for XRP and Solana, inviting public feedback before making a final determination. The funds would trade on the Cboe BZX Exchange if approved.

The regulator’s filings on Tuesday mark the next phase in a process that began in March when Cboe submitted its rule change request. The SEC previously postponed its decision in April, setting this week as the new deadline.

“Instituting proceedings does not indicate a conclusion,” the SEC clarified, emphasizing its desire for stakeholder input.

The comment period, once officially published, extends the decision timeline by 35 days, with a ruling expected by July. While Bitcoin and Ether ETFs have already gained approval, the race is on for similar products tied to other major cryptocurrencies.