The U.S. Securities and Exchange Commission (SEC) has delayed XRP exchange-traded fund (ETF) proposals from 21Shares as well as CoinShares.
The two proposals were originally filed on Nov. 21, 2024, and Jan. 24, respectively.
The SEC acknowledged both of these proposals back in February.
The agency is expected to either approve or deny these applications in October.
What do recent delays mean?
Once the SEC acknowledges a certain application, it has a maximum review timeline of up to 240 days.
The recent delays do not mean that the SEC opposes the approval of such products since these are merely procedural moves.
As reported by U.Today, Bloomberg analysts are still certain that XRP ETFs will be greenlit during the fourth quarter of the current year.