The U.S. Securities and Exchange Commission has delayed its decision on the WisdomTree XRP exchange-traded fund, and has now moved the deadline to October 24, 2025.
The application was filed by Cboe BZX Exchange, which asked for a rule change that would allow it to list and trade shares of the WisdomTree XRP ETF.
This decision means the SEC has now postponed rulings on all pending spot XRP ETFs except Franklin Templeton’s, according to the filing. Franklin Templeton’s fund faces its third deadline next month, while its final deadline is expected in November. The SEC said it needed more time to carefully review the applications before making a final call.
The first major deadline is October 18, when the Commission must either approve or reject Grayscale’s XRP ETF filing. Other XRP ETF filings have deadlines following quickly after Grayscale’s.
Analyst Predict 95% Chance of Approval
Bloomberg analysts Eric Balchunas and James Seyffart said there is a “95% chance” that the SEC will approve these XRP ETFs this year. Both also explained that the SEC might approve them all together, just as it did with Bitcoin and Ethereum ETFs earlier.
Ahead of these deadlines, all XRP ETF issuers have updated their S-1 filings. Grayscale even submitted a new registration statement for its planned XRP Trust ETF. James Seyffart said these changes were “almost certainly due to feedback from the SEC,” calling it a good sign even though it was widely expected.
Bunch of XRP ETF filings being updated by issuers today. Almost certainly due to feedback from SEC. Good sign, but also mostly expected pic.twitter.com/GiSL1kc6lt
— James Seyffart (@JSeyff) August 22, 2025
The SEC explained that extensions like this are normal in the process of reviewing digital asset funds. The Commission said delays help it properly study market risks, and other issues before making a decision.
The SEC also gave updates on other crypto-related filings. It asked for comments on Canary Capital’s staked TRX ETF and extended its review of Canary’s PENGU ETF, which is tied to meme coins like Dogecoin.
Canary further filed for an “American-made Crypto ETF” to give investors exposure to cryptocurrencies linked to the U.S. by their creation, minting, or operations. XRP fits into this category, so it could be included in the new fund.
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