The SEC delayed a final decision on the XRP spot ETF until June 17, which failed more market hopes. It also postponed a decision on Doge and Ethereum staking ETFs and may be delayed again until mid -October.
Although this Deferral seems to be bearish on the surface, it has not caused a large splash on the market. The commission is slowly moving to previous settings of decisions such as a settlement with a ripple, but it may decide on an XRP ETF before October.
There is no decision on the US XRP ETF yet
Today, the crypto industry is so good to accept an XRP ETF whose false gossip is driving a market confusion. The first said owner in the world began to trade in Brazil last week, further optimizing fuel.
However, the SEC is officially delayed Franklin Templeton's XRP ETF proposal, which puts less of these sentiments.
The commission did not stop there; This is it too delayed The Dogecoin ETF proposal of Bitwise as well as one for an Ethereum staking ETF.
Despite this signal from SEC, analyst James Seyffart ended that these delays are expected. He even went one step, claiming that the commission would probably delay Solana and Hbar ETF:
“These dates are all intermediate and we are likely to see the final decisions in many crypto ETPs in Q4. For the XRP spot ETF, [I’m] Looking at mid-October, around the 18th, as the final decision deadline. It is possible that the SEC will not take it all the time to make its decision, but many will perform how they are actively engaged in applications, ”Seyffart Explained.
Although the SEC is under more crypto-friendly leadership, it does not mean that a Bonanza of ETF approval will start immediately.
More than 70 active ETF measures await their verdict, and it will need to continue carefully to fix everything. This June deadline is not FinallyAnd the commission may make further delays until mid -October.
Following the delay today, the polymarket odds of the Q2 XRP ETF approved have also seen a sharp decline.
However, the crypto community already knows that October is the latest possible deadline. For some reason, the SEC needs to be careful about establishing a new preceding crypto ETFs.
For one thing, if it is greenlight of these products quickly, the market may experience unpredictable results.
In addition, the commission receives a criticism that loses its neutrality in these crypto reforms. Although the SEC focuses on its new bearing, a spree of ETF approved can invite further pushing.
The commission is wrapped in the Ripple case, but the loose ends will last for the predictable future.
In other words, the delay in this action is not as bearish as it first appears. Because the commission is preventing rapid action in various places, the market is easy to belly of another new deadline.
October is currently the worst case. Depending on many small factors, the SEC may approve an XRP ETF earlier than that.
Refusal
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