SEC Commissioner Reveals Reason For XRP ETF Delay

United States Securities and Exchange Commission (SEC) Commissioner Caroline A. Crenshaw has addressed ongoing concerns from the crypto investment community regarding the repeated delays in the approval of spot XRP exchange-traded funds (ETFs). In a recent interview, Commissioner Crenshaw emphasized that the delays are procedural and do not reflect a definitive stance against the launch of such products. Understanding the Cause of Delays In a conversation on The David Lin Report, Commissioner Crenshaw explained the underlying reasons for the SEC’s slow pace in reviewing spot XRP ETF applications. She acknowledged the growing dissatisfaction among investors but clarified that the delays result from the SEC’s structured and methodical evaluation process. According to Crenshaw, the agency operates within a bureaucratic framework that mandates careful analysis rather than rapid decision-making. She noted that she had anticipated the frustration and had previously advised market participants that the approval process would likely take time. Crenshaw reiterated that the SEC must adhere to procedural requirements, which naturally extend the timeline for reviewing exchange-traded product applications, including those tied to cryptocurrencies like XRP. Despite the delays, Commissioner Crenshaw confirmed that the SEC continues to actively assess numerous applications for crypto-related ETFs. These include a broad range of filings, not limited to XRP-based products. She stated that the commission is methodically working through a large volume of applications and that this process is consistent with how the agency has traditionally approached new financial instruments. Crenshaw stated that the fact that a filing has not yet been approved should not be interpreted as an outright rejection. She further explained the importance of a comprehensive review before granting regulatory clearance. No Final Decision Yet on Spot XRP ETFs Importantly, Commissioner Crenshaw clarified that the ongoing delays should not be interpreted as a denial of future XRP ETF products. She emphasized that the SEC has not made a final decision on whether to approve or deny these applications. The delays are part of the agency’s formal evaluation protocol, which aims to ensure that all aspects of a proposed product meet regulatory standards before approval. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Crenshaw added that although the pace may appear slow, the SEC’s review process is designed to safeguard market integrity and investor interests. She encouraged stakeholders to remain patient as the agency continues its evaluations. Timeline for Potential ETF Approval Currently, more than ten firms, among them Franklin Templeton and Bitwise , are pursuing the launch of spot XRP ETFs in the United States. The SEC has already postponed decisions on these filings twice, missing the first two regulatory deadlines. The third deadline for some applications is set for August, while the final deadline for review and approval falls in October 2025. Market analysts, including Bloomberg ETF experts Eric Balchunas and James Seyffart, have projected that approval may occur before the final October deadline. Although spot XRP ETFs remain under review, the SEC has previously granted clearance to futures-based XRP products, such as the Teucrium 2x Long Daily XRP ETF, indicating some level of openness to XRP-related investment instruments. Commissioner Crenshaw’s recent remarks aim to reassure market participants that the SEC’s approach to XRP ETF applications is guided by established procedures, not resistance. While the delays have raised concerns among investors, the agency remains engaged in a detailed review process. With multiple deadlines approaching, the coming months will likely provide further clarity on the future of spot XRP ETFs in the United States. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post SEC Commissioner Reveals Reason For XRP ETF Delay appeared first on Times Tabloid .

Source: TimesTabloid