by Vincent Muthee
The U.S Securities and Exchange Commission (SEC) has delayed its decision on XRP-based exchange traded funds (ETFs). The delay affects filings submitted by 21Shares, CoinShares and Bitwise, which have been under review since early this year.
For investors watching closely, the move adds another layer of suspense. Crypto ETFs have seen progress in recent months, but regulators continue to apply maximum review periods before giving a green light, or shutting the door.
SEC Extends Review Period for Three XRP ETFs
According to filings, 21Shares submitted its proposal in late November 2024, followed by CoinShares in January. The SEC acknowledged both applications in February. That acknowledgment starts the clock: the agency had up to 240 days to make a decision.
However, the commission delayed its decision to August 20. And now for the second time, the U.S SEC has revised its decision on 21Shares, CoinShares and Bitwise XRP ETFs to October 19 2025, as reported by CryptosRus:
LATEST:
The SEC Delays Spot $XRP ETF Decisions for Bitwise, CoinShares and 21Shares
The 21Shares Core XRP Trust, originally set for an August 20 decision, has been postponed until October 19, 2025.
Analysts suggest the SEC could be lining up multiple approvals to hit… pic.twitter.com/a5iLkvYpz8
— CryptosRus (@CryptosR_Us) August 18, 2025
The recent announcement doesn’t signal rejection. Instead, it reflects a familiar playbook. The SEC has repeatedly used its authority to pause the clock, citing the need for more review. Analysts note these procedural moves are standard practice.
Furthermore, some leaders inside the agency are skeptical about crypto-based ETFs, thus leading to strong opposition. For instance, Democratic Commissioner Caroline Crenshaw is well known for her strong stance against crypto investment products. Nonetheless, analysts maintain confidence, putting the odds of XRP ETF approval by year-end at around 95%.
“Interesting, trades reporting how Polymarket odds of XRP ETF approval went down to 62% after the votes were disclosed showing Crenshaw voting no, but a) she’s gonna vote no on EVERYTHING and b) it’s meaningless, she’s outnumbered = we haven’t changed our odds, still at 95%,” Eric Balchunas wrote on X.
Polymarket Odds Show Cooling Optimism for XRP ETFs
However, not everyone shares the high level of optimism expressed by Bloomberg’s ETF analyst Eric Balchunas. Prediction market Polymarket currently places the odds of XRP ETF approval at 77%. That is down from a June 3 peak of 98%.
In fact, the crypto community market has been jittery regarding XRP ETFs. At one point in early August, the approval odds dipped as low as 65%. Traders say the swings reflect shifting confidence in how quickly regulators are willing to act.
The gap between Polymarket’s 77% and Bloomberg’s 95% highlights a split between retail sentiment and institutional research. Bettors remain cautious, while analysts expect the fourth quarter to deliver the long-awaited approval.
BlackRock Out of the Picture
Speculation about whether BlackRock would file for an XRP ETF has now been put to rest. The world’s largest asset manager confirmed it will not pursue both XRP ETF and Solana ETF.
“BlackRock has stated they currently have no plans to file for Ripple or Solana Spot ETFs, but they are exploring including assets like $SOL and $XRP for potential future offerings. This aligns with their cautious approach, as seen in past statements from executives like CEO Larry Fink and CIO Samara Cohen, who emphasized a focus on Bitcoin and Ethereum ETFs for now,” Marty Party wrote in a post a week ago.
That leaves Franklin Templeton as the most significant traditional firm with an active XRP ETF application. Fidelity, which has taken steps toward a Solana ETF, is also staying away from XRP. Industry observers say the absence of BlackRock and Fidelity narrows the field, giving Franklin Templeton and 21Shares more visibility if approvals come through.
XRP Price Struggles Amid Market Pressure
XRP has not escaped the broader market pullback. According to data by Coingecko, Ripple-backed XRP is currently priced at $3.07 down by 1% over the last 24 hours.
Over the last 7 days, the coin is down by 4.3% and 10.5% over the last 30 days. This dip shows that XRP has been struggling recently and could dip below $3 like it did in early August.
Nonetheless, an XRP ETF approval by the US SEC could pave the way for an XRP rally. Conversely, a rejection of the three paused ETFs could make investors lose confidence in the coin despite the report of Ripple and SEC ending their long legal battle pumping positive sentiment into the market.
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