The regulatory landscape for cryptocurrency exchange-traded funds (ETFs) is heating up, with the U.S. Securities and Exchange Commission (SEC) currently grappling with over 70 spot-based crypto ETF proposals. Within this flurry of applications, a significant number center around XRP, the digital asset backed by a passionate and closely-knit community eagerly anticipating regulatory clarity.
Growing List of 4Applicants Eyeing XRP ETF Launch
A clear indicator of growing institutional appetite for XRP exposure comes from the increasing number of asset management firms vying for SEC approval. More than ten companies have thrown their hats into the ring, including industry heavyweights such as Grayscale, 21Shares, Bitwise, WisdomTree, CoinShares, Canary, ProShares, and Franklin Templeton.
Complementing these filings, exchanges like NYSE Arca and Cboe have submitted the necessary 19b-4 forms, paving the way for the potential listing and trading of these XRP ETFs upon regulatory endorsement. The SEC’s formal acknowledgement of these applications has set the clock ticking on their mandatory 240-day review period, fueling intense speculation within the XRP community about a potential green light in 2025.
Key Decision Dates Loom for XRP ETF Filings
Providing concrete timelines for the SEC’s deliberations, XRP advocate GA Spark recently highlighted critical decision deadlines for several key applications. According to their analysis, Grayscale’s bid to transform its existing XRP Trust into a spot ETF faces a final resolution date of October 18, 2025. Following closely are the deadlines for 21Shares (October 19), Bitwise (October 20), Canary (October 24), and WisdomTree, CoinShares, and Franklin Templeton (all on October 25).
While these dates represent the outer limit of the SEC’s review period, the Commission retains the option to issue its verdicts earlier. Notably, the SEC has previously opted to announce decisions on multiple crypto ETFs simultaneously, as witnessed with the recent approvals for Bitcoin and Ethereum spot funds, suggesting a similar approach could be taken with XRP.
Also Read: XRP Ledger Security Scare: Backdoor in Popular Library Prompts Urgent Response
Community Optimism Despite Short-Term Market Shift
Investor sentiment within the XRP community remains largely optimistic regarding the prospects of an XRP ETF. Prediction market data on Polymarket currently reflects a strong 79% probability of approval occurring before the close of 2025. However, there has been a recent slight cooling in near-term expectations, with the likelihood of approval by July 31 dropping by 10% to 43%. This underlying optimism is largely fueled by the perception of a gradually more accommodating stance towards digital assets from the current SEC administration. Proponents argue that approving an XRP ETF would logically extend regulatory recognition to a digital asset with significant market presence and align with increasing institutional demand.
The XRP ETF applications are part of a broader trend, with Bloomberg ETF analyst Eric Balchunas confirming the SEC is currently evaluating a total of 72 spot-based cryptocurrency ETFs, encompassing assets ranging from Solana and Dogecoin to Cardano and Litecoin. As the SEC’s deadlines draw closer and institutional interest continues to build, the remainder of 2025 promises to be a pivotal period for the future of XRP ETFs and the wider crypto ETF market in the United States.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
