TL;DR
- The United States Securities and Exchange Commission has provided a new update on a few of the spot Ripple ETF filings.
- The underlying asset has struggled in the past few days but has managed to return above a crucial support level at $3.
The first update published minutes ago by the securities regulator informs that it has once again delayed making a decision on whether to approve ot reject Nasdaq’s proposal to list and trade the Coinshares’ XRP ETF.
The filing reads that the SEC has extended the review period beyond the initial August 24 deadline, pushing the final decision date to October 23, 2025. It explained that this extension allows additional time to evaluate the proposed rule change and the new public comments it has received.
If approved, the Coinshares XRP ETF would be structured under Nasdaq’s Commodity-Based Trust Shares framework, giving investors regulated exposure to Ripple’s token through traditional markets.
Reports emerged after this SEC announcement that the agency has also delayed making a decision regarding two more XRP ETF applications – those filed by Bitwise and Canary.
Ripple’s token has followed the overall market-wide correction in the past few days, dropping below $3 earlier today, which is a key support level. Although it currently sits slightly above it, the danger still looms for another price crash to as low as $2.10, as a few analysts warned earlier today.
The post Breaking Update on Several Spot Ripple (XRP) ETF Filings appeared first on CryptoPotato.
