The US Securities and Stock Exchange Commission (SEC) extended the process of evaluating the applications for the XRP and Solana -based Stock Exchange Investment Fund (ETF) made by Franklin Templeton for 35 days. This development postponed the decision process for ETFs to be traded on the Chicago Board Options BZX Stock Exchange. Franklin Templeton applied for these ETFs in March 2025, but postponed the SEC starting decision in April.
EVALUATION AND INTERPRETATION PROCESS
With this process opened to the public opinion on June 17, the SEC has created an additional time to examine the functioning of both ETFs and the stock market. The delay of the decision was evaluated within the scope of traditional procedures for the application, and the final decision to be announced with the extension of this process for 35 days was postponed until July.
The first comments to be collected from the public about the application will be received within 21 days after the publication of the Federal Registration list. The answers to this will be collected within 14 days after the end of this first period. In this way, it is stated that a process in which the opinions of different segments will be taken into consideration during the decision phase will be operated.
The Commission demands public interpretations as to whether the shares of this Trüst, which contains XRP, to the list and trade, whether it is designed to prevent fraud and manipulation actions, or to give rise to new concerns that have not been foreseen by the commission.
Design and Valuation Methods of ETFs
The proposed XRP ETF plans to have the like XRP and cash. The CME CF XRP-dolar reference ratio will be used in the valuation of the fund. On the other hand, for the solana (left) ETF, the proposal to stak the left assets held in hand has been brought to the agenda. With this approach, it is suggested that the decreasing Stinging awards will have a similar effect on the loss of stock dividends.
The assessment of the SEC is made in accordance with Article 6 (B) (5) of the Stock Exchange Law of 1934. This legal framework is based on the principles of preventing fraud and protection of investors. In the announcement he published, he used the following statement:
The initiation of the investigation process does not mean that the commission has any results on any issues related to the related issues.
Market expectations and international developments
Although ETF applications have not yet been approved, it is seen that there is a positive expectation in the market. Related markets closely follow these developments. In addition, a XRP -based ETF in Canada started to be traded on the TSX stock exchange on 18 June. This example led to the discussion of the possibility of similar products in the USA.
On the other hand, the fact that the result of Franklin Templeton’s applications, especially a period in which the regulatory environment will be determined, may affect the motivation of other companies to make similar applications. In addition, SEC’s approaches and public opinion comments may play decisive roles in making the final decision.
The uncertainty continues to whether investors and new ETF products will receive approval. Decisions and public opinion comments to be made by SEC have the potential to shape the future of crypto currency -based financial products in the USA.
The approach to the regulation of investment funds and investor protection is critical in terms of the widespread processing of crypto assets in financial markets. The final decision of the SEC may indicate the beginning of a new era in terms of both investors and financial sector. Open to public opinion, this process can be an example of the sector in terms of transparency and participation. For investors, it is recommended to carefully evaluate risks and opportunities in the positive or negative conclusion of ETF applications.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
