XRP News Today: Altcoin ETFs Near U.S. Approval as DTCC Clears Key Hurdle

DTCC's recent listing of Bitwise's spot Chainlink (LINK) ETF under the ticker CLNK has intensified speculation about the imminent arrival of altcoin-based exchange-traded funds in U.S. markets. The move, announced by the Depository Trust and Clearing Corporation, marks a procedural milestone typically preceding regulatory approval and trading commencement, according to a The Block report. This development follows a surge in activity among major asset managers preparing XRP-linked ETFs, with five such funds—including those from Franklin Templeton, Bitwise, and CoinShares—now listed on DTCC's pre-launch platform, as a TradingView briefing notes.

The DTCC listing of Bitwise's CLNK ETF, filed under a no-delay amendment, signals the fund's readiness for automated effectiveness once the SEC completes its review, The Block reports. Unlike Grayscale's proposed Chainlink ETF, which may incorporate a staking mechanism for LINK tokens, Bitwise's offering will hold the asset directly without staking, according to the same The Block report. Chainlink, a decentralized oracle network, has seen its price dip 6.55% to $15.36, but analysts argue that ETF approvals could catalyze renewed investor interest, per the The Block report.

Parallel momentum is building for XRP ETFs, with Canary Capital's XRPC fund poised to launch as early as November 13 after filing an 8-A form with the SEC, Cryptopolitan reports. The firm's CEO, Steven McClurg, previously highlighted the fund's potential to outperform Solana's debut, citing strong demand for XRP exposure, as Cryptopolitan notes. Five XRP ETFs from Bitwise, Franklin Templeton, 21Shares, Canary, and CoinShares are now on DTCC's radar, with market observers anticipating approvals within weeks following the end of the U.S. government shutdown, as a Coinotag report indicates.

The regulatory landscape has shifted as the SEC resumes reviews after a month-long pause due to the shutdown, as a Coinotag report reports. This has cleared the path for pending applications, including Grayscale's plan to convert its existing XRP Trust into a spot ETF, per the TradingView briefing. Leveraged XRP funds like Teucrium's XXRP and Rex-Osprey's XRPR have already attracted over $100 million in assets, underscoring institutional appetite for the asset, as Cryptopolitan notes.

Market participants are closely monitoring XRP's price action, which has dipped 5.15% to $2.41 in recent trading, according to the The Block report. However, historical precedents—such as Bitcoin and Ethereum ETF inflows exceeding $50 billion—suggest that regulatory clarity could drive significant capital inflows, as a Coinotag report indicates. The success of Solana and XRP futures on the CME Group also reflects growing institutional participation in crypto derivatives, as a TradingView briefing notes.

The DTCC listings and regulatory developments highlight a broader trend of institutional adoption. Franklin Templeton's XRPZ ETF, for instance, has finalized custody arrangements with Coinbase Trust and amended its S-1 registration to accelerate launch timelines, as a TradingView briefing notes. Meanwhile, WisdomTree and other firms are expected to join the XRP ETF race, intensifying competition for market share, per the same TradingView briefing.