SEC Delays Decision on Grayscale’s XRP ETF

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

The price of XRP dipped by 1.2% on this news after reaching an intraday high of $2.2.

The SEC has also postponed decisions 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 an ETF in late January. The proposal was acknowledged by the SEC in mid-February, marking the first XRP ETF filing to receive such acknowledgment from the regulator.

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