SEC Weighs Multiple Crypto ETFs as CME Group Plans XRP Futures Launch

Crypto ETFs continue to grow as the Securities and Exchange Commission (SEC) reviews multiple new proposals. At the same time, the CME Group is preparing to add XRP futures to its offerings, showing increased institutional interest in digital assets.

According to recent filings, the SEC has pushed back its decision deadlines for several crypto ETF applications, including those for Polkadot and Hedera tokens. These delays come as the agency deals with a wave of applications following earlier approvals for Bitcoin and Ethereum spot ETFs.

Expanding Beyond Bitcoin and Ethereum ETFs

The SEC previously approved spot Bitcoin ETFs in January 2024 and spot Ethereum ETFs in July of the same year. These approvals came after a court ruling in favor of Grayscale, which had challenged the SEC’s earlier rejections.

Now, firms like Grayscale and Canary are seeking approval for ETFs based on other cryptocurrencies. Grayscale has filed to convert its Polkadot Trust into an ETF, while Canary is looking to list an HBAR ETF. Both decisions have been delayed until June 11, giving the SEC more time to review the proposals.

The regulatory agency also pushed back its decision on the Bitwise Bitcoin and Ethereum ETF until June 10.

Trump Administration Triggers Evolution of Crypto ETFs

The crypto ETF landscape has changed significantly since President Trump took office in January 2025. The SEC has shown more openness to the crypto industry, holding public roundtables and dropping several lawsuits against crypto companies.

The next roundtable, scheduled for Friday, will focus on crypto custody issues.

Meanwhile, CME Group plans to launch XRP futures next month, pending approval from the Commodity Futures Trading Commission (CFTC). If approved, this would be CME’s fourth cryptocurrency futures product, joining its existing Bitcoin, Ethereum, and Solana offerings.

The planned XRP futures would offer two contract sizes: a micro-sized contract of 2,500 XRP and a larger contract of 50,000 XRP. Both would be cash-settled using the CME CF XRP-Dollar Reference Rate.

XRP, with a market cap of over $127 billion, is currently the fourth-largest cryptocurrency. Some analysts believe XRP adoption might increase following the SEC’s decision to end its legal battle with Ripple, the company most closely associated with XRP. The agency reduced Ripple’s fine from $125 million to $50 million in a March settlement.