United States Securities and Exchange Commission (SEC) has delayed the review deadline for Franklin Templeton’s listings of spot Exchange-Traded Funds (ETFs) for Solana (SOL) and XRP. The regulator now intends to announce its decision in October 2025 for Solana and November 2025 for XRP, further than originally anticipated.
Franklin Templeton, a leading asset manager, submitted plans for these ETFs as part of a larger initiative to introduce more crypto-based financial products to mass markets. If approved, these would be some of the first Solana and XRP spot ETFs available in the United States, a potential benchmark for altcoin integration into mainstream finance.
The SEC Delay
The SEC invoked a requirement for further analysis and a general review of market integrity, investor protection, and compliance with the Securities Exchange Act. The agency made clear that the delay is procedural and not an indication of rejection. As with previous crypto ETF reviews, the SEC is examining the proposals with diligence to check that they meet strict regulatory standards, particularly in the field of market manipulation and custodial safety.
The extension arrives as the SEC’s conservative approach to handling financial instruments derived from cryptocurrency. While the agency recently cleared spot Bitcoin ETFs earlier this year, altcoin-based ETFs are still under stricter scrutiny due to still-unanswered questions about their decentralization and legal status.
The delay comes at a time when institutional and retail investors alike are building interest in altcoin ETFs, which they perceive as an entrance into the world of crypto and regulated financial systems. But with choices reserved until late in 2025, hopes and regulatory uncertainty still sit in the background shaping investor sentiment.
For now, the crypto universe will be watching as the SEC pushes ahead with the review process.
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