SEC Commissioner Hester Peirce addressed growing market concerns by clarifying that repeated delays in the approval process for a spot XRP exchange-traded fund (ETF) do not constitute rejections. During recent statements, Peirce explained that the Securities and Exchange Commission's bureaucratic procedures often cause extended review periods, but emphasized this careful approach is necessary to ensure regulatory compliance and investor protection.
The SEC formally extended the review deadline for Franklin Templeton's proposed XRP ETF until September 2025 to conduct additional market research and compliance verification. Peirce specifically referenced the decade-long Bitcoin ETF approval process as a cautionary example, stating the agency aims to avoid repeating past inefficiencies that required court intervention to resolve.
While acknowledging frustration over delays affecting multiple cryptocurrency ETFs—including those for Litecoin and Dogecoin—Peirce maintained that "delays should not be mistaken for dismissal." She confirmed the XRP ETF application remains under active consideration, with the extended timeline intended to gather sufficient data for informed decision-making. Ripple Labs separately criticized the SEC for creating regulatory confusion through unclear guidelines in an official response letter.
Peirce reiterated that any eventual approval would require strict adherence to federal securities laws, noting that the potential greenlighting of an XRP ETF could follow the market legitimacy trajectory seen with Bitcoin ETFs. Market participants are advised to monitor regulatory developments through the September 2025 deadline for significant updates.
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