SEC Delays XRP ETF Decision

Earlier this Tuesday, the U.S. Securities and Exchange Commission delayed its decision on an application by cryptocurrency asset manager Grayscale to convert its XRP trust into ETF.

The price of XRP has dipped by 1.2% on the news after spiking to an intraday high of $2.2 on the news.

The SEC has also postponed making a decision on Grayscale’s Dogecoin ETF and Canary Capital’s Litecoin ETF earlier today.

Grayscale, the leading crypto asset manager, originally filed to convert its XRP trust into ETF in late January. The proposal was then acknowledged by the SEC in mid-February. Notably, this was the very first XRP ETF filing that received acknowledgment from the regulator.

As reported by U.Today, investment behemoth Franklin Templeton also joined the XRP ETF race earlier today.