The U.S. Securities and Exchange Commission (SEC) has postponed its final decision on the spot XRP exchange-traded fund (ETF) proposed by 21Shares. It has been reported that the process regarding the rule change application for the “21Shares Core XRP Trust”, which is planned to be listed on the Cboe BZX Exchange, has been extended. In the official document published by the SEC on May 20, 2025, it was stated that the evaluation process of the proposal for the fund named “21Shares Core XRP Trust” to be listed and traded as a “commodity-based investment fund share” under BZX Rule 14.11(e)(4) is ongoing. The first application was made on February 6, and the proposal was resubmitted with changes on February 12. Bloomberg ETF analyst James Seyffart, who made an assessment on the subject, said that delays were expected and said: “Delays are to be expected for spot crypto ETFs. There are several more XRP ETP applications coming up in the coming days. Even if we were to see early approval from the SEC, it would be late June or early July at the earliest. The more likely time frame is Q4.” *This is not investment advice.