XRP ETF Approval: 2025 Could Be the Breakthrough Moment

The crypto industry is once again watching Washington closely, this time with hopes pinned on the possibility of a U.S. spot XRP ETF. Although the SEC has not yet signed off on such a product, heavyweight asset managers including Grayscale, Franklin Templeton, and Bitwise have already filed applications, underscoring growing institutional belief in XRP’s long-term viability.

For years, the biggest obstacle was the SEC vs. Ripple lawsuit, which cast a shadow over XRP’s regulatory status. With that dispute now resolved, analysts see a much clearer runway. Combined with the precedents set by approved Bitcoin and Ethereum spot ETFs, the consensus view is that XRP could be next in line—potentially by the end of 2025.

Prediction markets mirror this optimism: as of August 12, 2025, blockchain-based platform Polymarket priced the probability of an approval this year at roughly 81%.

Investor Demand Already Evident

Even without a U.S. spot product, demand is showing up elsewhere. Futures-based XRP ETFs have pulled in over $500 million in the past month alone, a strong signal that investors are eager for a regulated spot vehicle.

The standout growth of spot Bitcoin and Ethereum ETFs has provided a roadmap, and many market participants expect XRP to follow a similar trajectory once approved.

Regulatory Tensions: Crenshaw’s Cautionary Role

Despite momentum, dissent remains inside the SEC. Commissioner Caroline Crenshaw has consistently voted against every crypto-related ETF in 2025, whether tied to Bitcoin, Ethereum, or XRP. Her opposition is rooted in concerns about investor protection, market integrity, and the adequacy of current regulations.

Crenshaw has also criticized SEC guidance on related areas such as liquid staking and stablecoins, reinforcing her stance as a regulatory hawk. While she has been outvoted in 3-1 decisions, her persistent dissent tempers expectations of a seamless approval process.

A Global Head Start

While the U.S. deliberates, overseas markets already provide investors with multiple XRP investment vehicles.

- Europe – The 21Shares XRP ETP (AXRP), launched in 2019, is now the largest of its kind, joined by products from WisdomTree, Bitwise, CoinShares, and Virtune.

- Canada – Funds like Evolve XRP, Purpose XRP, and 3iQ XRP ETFs give investors direct exposure under a regulated framework.

These products demonstrate both investor appetite and operational viability, providing a working model for what the U.S. could eventually replicate.

BlackRock Stays on the Sidelines

Interestingly, BlackRock, the world’s largest asset manager, has stated it has “no plans” to pursue an XRP ETF for now. Instead, it remains focused on its Bitcoin and Ethereum offerings. This caution reflects the regulatory uncertainty that still surrounds assets beyond the two largest cryptocurrencies.

Outlook: A Question of When, Not If

The combination of legal clarity, institutional filings, and global precedents has fueled widespread belief that an XRP spot ETF is inevitable. While dissent within the SEC could delay progress, the broader market narrative is overwhelmingly positive.

Most analysts agree that 2025 may well mark the turning point, paving the way for billions in institutional and retail inflows once the product is launched.

Disclaimer: This article is for informational purposes only and should not be taken as investment advice. Always consult a licensed financial professional before making investment decisions.