The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Grayscale's application for a spot XRP exchange-traded fund (ETF), indicating that more time is needed to evaluate the application. The SEC's initial review period is set for 45 days, which can be extended up to 240 days. The agency may now take until mid-October to make its final ruling. Meanwhile, Franklin Templeton has filed its own application for a spot XRP ETF. The SEC is also reviewing applications from several other firms amid growing demand for digital asset investments through traditional financial products. This interest follows a significant increase in assets under management in spot ETFs, marking them as a rapidly growing category. XRP has seen a price rise to $2.19, though it remains below its previous peak of $3.38. Experts suggest that U.S. President Trump's re-election has positively impacted XRP amidst ongoing regulatory scrutiny from the SEC regarding its status. Despite some regulatory actions winding down, the SEC's enforcement against Ripple Labs continues.

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