SEC’s Latest Crypto Delay: Is the XRP ETF Real or Just an Imaginary Friend?

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Imagine being an XRP investor: every morning you wake up, put on the same hopeful pants, and open the news—only to find out the U.S. Securities and Exchange Commission is still flirting with Franklin Templeton’s proposed XRP Spot ETF, now scheduling another “maybe” lunch for June 17th, 2025. Mark your calendars, but use a pencil. Or just a sad emoji. ☹️

Before you lose your cool and start practicing deep breathing exercises, here’s a reality check: XRP futures contracts aren’t even listed on the Chicago Mercantile Exchange. This is like reserving a wedding venue before you’ve actually met someone willing to date you. Following its time-honored tradition, the SEC waits until there are real futures with real numbers and, presumably, real adults trading before blessing any spot ETF. What’s a little harmless procrastination between friends?

It’s not just XRP languishing in financial purgatory. The SEC, keen on collecting trading data but seemingly less keen on decision-making, is also blocking the dance floor for Ethereum staking ETFs and—wait for it—Dogecoin. Yes, the joke coin. James Seyffart at Bloomberg, who deserves a medal for patience, reports further delays than a lunch date with a friend who “just needs five more minutes.” Solana and Hedera Hashgraph hopefuls: your rejection letters are scheduled for delivery soon as well.

The real gala, with all these ETFs, doesn’t wrap until late 2025. By then, we may all be using our crypto wallets to pay for hoverboard charging. As for new SEC leadership, Paul Atkins has just stepped into the office, and there’s nothing that inspires confidence in investors more than that new-commissioner smell—like freshly printed money, but more regulatory.

A Theory For Those With Time to Kill

Here’s where things get juicy. Someone on social media (which is basically the academic journal for conspiracy theories) suggests if the SEC and Ripple Labs settle their legal quagmire by exchanging actual XRP tokens instead of cash, the SEC might be holding out on the ETF approval. Why? Because if the ETF drops before the settlement, XRP’s price could moon faster than Elon Musk’s next midlife crisis toy, and suddenly the settlement is worth a lot more. It’s like agreeing to split the lottery ticket before the numbers pull.

For now, the SEC vs. Ripple showdown is in “abeyance,” which is lawyer-speak for letting everyone marinate in their anxiety. Settlement discussions are scheduled to finish by June 10th, 2025—just in time for the SEC to host yet another cliffhanger season finale a week later. 🎬

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2025-04-30 07:14