News and Updates Editorial team Coin-Report · As of
SEC Delays ETF Decisions for XRP and Solana, Impacting Crypto Market Dynamics
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XRP and Solana on Hold: SEC Delays BlackRock's ETF Applications
The U.S. Securities and Exchange Commission (SEC) has postponed decisions on cryptocurrency ETF applications from BlackRock and Franklin Templeton. This delay affects products related to Ethereum, Solana, and XRP, with Franklin Templeton required to decide on a change regarding Ethereum staking by November 13, while the deadlines for its Solana and XRP ETFs have been set for November 14. BlackRock is also left waiting, as its application for staking products in the iShares Ethereum Trust has been pushed to October 30.
The SEC has not indicated which way it might lean on these applications, and this is not the first time there have been delays on ETF applications for altcoin and staking products. Currently, the regulatory body is reviewing over 90 applications for cryptocurrency ETFs and related products. Bloomberg analyst Eric Balchunas has suggested that a Dogecoin ETF might be on the verge of launching, indicating a unique moment in financial history.
"The SEC's indecision continues to create uncertainty in the market, particularly for major players like BlackRock and Franklin Templeton." - BTC-ECHO
Key Takeaway: The SEC's delays on ETF applications for XRP and Solana highlight ongoing regulatory uncertainties in the cryptocurrency market.
XRP Gains Traction in European Banks
The relationship between the European banking sector and the cryptocurrency market is gaining momentum, with the Spanish bank BBVA announcing an expanded collaboration with Ripple to offer digital asset custody services. Meanwhile, Germany's DZ Bank has implemented a Ripple custody solution, marking a significant step at the institutional level. This trend is influenced by the MiCA regulation (Markets in Crypto-Assets), leading to increased acceptance of XRP among established financial institutions.
The integration of XRP into banking systems indicates that it is no longer viewed merely as a speculative asset but is becoming part of the financial infrastructure.
"XRP is increasingly being recognized as a bridge for cross-border payments and liquidity." - FinanzNachrichten.de
Key Takeaway: XRP's growing acceptance in European banks signifies a shift towards institutional integration of cryptocurrencies.
Ripple Controls Nearly Half of All XRP
Ripple Labs holds approximately 42% of all existing XRP, maintaining the largest position in the cryptocurrency. In addition to 4.5 billion XRP in liquid assets, another 35 billion tokens are locked in escrow contracts, which are released monthly. Co-founder Chris Larsen still possesses over 2.5 billion XRP, valued at around $7 to $8 billion, distributed across multiple wallets, some of which have remained untouched since 2013.
Notably, trading platforms are also significant holders, with Upbit managing over 6 billion XRP for its customers, followed by Binance with about 2.7 billion. However, Coinbase has reduced its XRP holdings by more than half since summer 2025, indicating a strategic realignment rather than regulatory motivations. The number of wallets holding over 1 million XRP has reached a record high of 2,708, reflecting increased institutional interest and renewed confidence in XRP following the resolution of its legal battle with the SEC.
"The concentration of XRP holdings raises questions about the actual decentralization and long-term independence of the network." - BTC-ECHO
Key Takeaway: Ripple's significant control over XRP raises concerns about decentralization within the cryptocurrency ecosystem.
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