SEC Opens Public Comment on Franklin Templeton’s Proposed XRP and Solana ETFs

Uncover insights within the DeFi area. This article dives into: “SEC Opens Public Comment on Franklin Templeton’s Proposed XRP and Solana ETFs”.

• SEC opens a 35-day remark window for proposed XRP and SOL ETFs beneath Section 6(b)(5) of the Exchange Act.
• Applications filed by Franklin Templeton in March 2025.
• Review focuses on fraud prevention and investor safety guidelines.

The US Securities and Exchange Commission (SEC) has prolonged the evaluation interval for Franklin Templeton’s functions to launch spot ETFs for XRP and Solana. Both ETFs are into account on the Chicago Board Options (CBoe) BZX Exchange.

The Commission introduced on 17 June that it had opened the method for public remark which can delay the choice by 35 days. Franklin Templeton initially filed in March 2025, with the SEC delaying its preliminary determination in April. The new proceedings lengthen the timeline into July.

The Commission seeks remark on whether or not the proposal to listing and commerce Shares of the Trust, which might maintain XRP, is designed to stop fraudulent and manipulative acts and practices or raises any new or novel considerations not beforehand contemplated by the Commission.

The US Securities and Exchange Commission

Related: Purpose Launches Canada’s First XRP ETF, Trading Begins 18 June on TSX

This evaluation falls beneath Section 6(b)(5) of the Securities Exchange Act, which focuses on fraud prevention and investor safety. The SEC clarified in its discover that “institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved”.

How the ETFs Would Work

The proposed XRP ETF would maintain solely XRP and money equivalents and use the CME CF XRP-Dollar Reference Rate for valuation. The Solana ETF features a proposal to stake held SOL, arguing that declining staking rewards could be corresponding to forfeiting fairness dividends.

The deadline for preliminary feedback from the general public is 21 days post-publication within the Federal Register with rebuttals due one other 14 days after that. Though approval just isn’t assured, sentiment on prediction markets stays bullish.

Related: Solana Rising: Scaramucci Declares Blockchain the Future Backbone of Global Finance

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