SEC Reviews 72 Spot Crypto ETFs, XRP Deadlines Set for 2025

The U.S. Securities and Exchange Commission (SEC) is currently reviewing over 70 spot-based cryptocurrency exchange-traded fund (ETF) proposals, with a significant number of these applications centered around XRP. The digital asset's community has been vocal and engaged, awaiting regulatory clarity on these proposals. Several asset management firms, including Grayscale, 21Shares, Bitwise, wisdomtree, CoinShares, Canary, proshares, and Franklin Templeton, have filed applications with the SEC to launch spot XRP ETFs. Exchanges like NYSE Arca and Cboe have also submitted the necessary 19b-4 forms to facilitate the listing and trading of these funds upon regulatory approval.

The SEC’s acknowledgment of these applications has triggered the formal review period, during which the Commission is legally required to decide within 240 days. Community discussions have intensified around whether the SEC will give XRP ETFs the green light in 2025. Specific deadlines for SEC action on several XRP ETF filings have been highlighted by a prominent XRP advocate. According to the breakdown, Grayscale’s application to transform its XRP Trust into a spot ETF must be resolved by October 18, 2025. Additional deadlines include October 19 for the 21Shares XRP ETF, October 20 for Bitwise, October 24 for Canary, and October 25 for the filings submitted by WisdomTree, CoinShares, and Franklin. These dates represent the end of the SEC’s decision window for each application, although the Commission may issue rulings earlier. It’s worth noting that the SEC has previously chosen to announce decisions on multiple crypto ETFs at once, as was the case with recent approvals for Bitcoin and Ethereum spot-based funds.

Investor sentiment within the XRP community remains largely hopeful. A prediction market on Polymarket currently shows a 79% probability of XRP ETF approval occurring before the end of 2025. However, the likelihood of approval by July 31 has recently decreased, now standing at 43%—a 10% drop compared to the previous day. Much of the optimism is driven by the belief that the SEC’s posture toward digital assets has gradually become more receptive under the current administration. Proponents argue that approving an XRP ETF would further align regulatory oversight with growing institutional demand.

Ask Aime: How will the SEC's review of over 70 spot-based cryptocurrency ETF proposals affect the XRP community?

XRP ETF applications are part of a wider wave of crypto-related proposals awaiting regulatory verdicts. The SEC is evaluating 72 spot-based cryptocurrency ETFs, some of which involve assets like Solana, Dogecoin, Cardano, Litecoin, and even a fund linked to the “Official Melania Meme Coin.” With increasing interest from traditional finance players and clearer deadlines established, the remainder of 2025 is expected to be promising for XRP ETF prospects and broader crypto ETF approvals in the U.S.