XRP News Today: Grayscale Files XRP ETF Amid Legal Clarity and Market Optimism

Grayscale Investments has filed a registration statement for a spot XRP Exchange-Traded Fund (ETF) with the U.S. Securities and Exchange Commission (SEC), marking a significant development in the institutional adoption of digital assets. The S-1 filing, submitted on August 22, 2025, follows a broader wave of XRP ETF proposals revised by asset managers such as Bitwise, Canary, CoinShares, Franklin Templeton, 21Shares, and WisdomTree during the same period [1][2]. These updates suggest a growing confidence in the evolving regulatory clarity for XRP, particularly in the wake of a favorable legal ruling.

The Second Circuit Court of Appeals recently concluded that XRP does not qualify as a security under U.S. securities law in most contexts, a decision widely seen as a pivotal shift in the legal landscape [3]. Grayscale’s filing is seen as a strategic response to this ruling, aiming to provide institutional investors with a regulated vehicle for exposure to XRP. This development aligns with the firm’s broader efforts to expand access to digital assets through innovative financial products.

While the SEC has not yet announced a decision on Grayscale’s XRP ETF, or any of the other pending applications, the agency has indicated a delay in its review process. Originally expected to issue rulings in mid-August, the SEC now anticipates completing its evaluation by October 2025 [7]. This delay highlights ongoing regulatory uncertainties and underscores that approval is not guaranteed. Notably, Grayscale’s XRP Trust, which would serve as the underlying asset for the ETF, has yet to receive final approval for its 19b-4 application from the SEC, a prerequisite for listing on NYSE Arca [4].

The revised XRP ETF proposals include structural enhancements, such as the ability to create and redeem shares in either physical XRP or cash. This flexibility may address liquidity concerns and reduce counterparty risks, which have historically been barriers to approval [5]. Analysts suggest that if approved, the ETF could increase trading volumes and liquidity for XRP, following a pattern similar to the Bitcoin and Ethereum ETF launches [1]. However, the market’s initial reaction to the news was muted, with XRP’s price rising briefly before retreating after the SEC announced its delayed timeline [7].

The outcome of these filings could influence the broader adoption of digital assets by institutional investors. If approved, the XRP ETF would represent a step forward in the legitimization of cryptocurrencies within traditional financial markets. However, the SEC’s final decision will remain a critical factor in determining the trajectory of the XRP market and the wider crypto ecosystem [1][2].

Source:

[1] The Block - [https://www.theblock.co/post/368019/very-good-sign-grayscale-bitwise-and-more-file-amendments-for-spot-xrp-etf-proposals](https://www.theblock.co/post/368019/very-good-sign-grayscale-bitwise-and-more-file-amendments-for-spot-xrp-etf-proposals)

[2] Crypto Briefing - [https://cryptobriefing.com/xrp-etf-filings-grayscale-eth-ath/](https://cryptobriefing.com/xrp-etf-filings-grayscale-eth-ath/)

[3] AInvest - [https://www.ainvest.com/news/ripple-legal-victory-paves-grayscale-xrp-etf-filing-2508](https://www.ainvest.com/news/ripple-legal-victory-paves-grayscale-xrp-etf-filing-2508)

[4] StreetInsider - [https://www.streetinsider.com/SEC+Filings/Form+S-1+Grayscale+XRP+Trust/25242005.html](https://www.streetinsider.com/SEC+Filings/Form+S-1+Grayscale+XRP+Trust/25242005.html)

[5] Binance - [https://www.binance.com/en/square/post/28683382560081](https://www.binance.com/en/square/post/28683382560081)

[7] Nasdaq - [https://www.nasdaq.com/articles/sec-just-announced-delays-xrp-etf-and-spot-xrp-funds](https://www.nasdaq.com/articles/sec-just-announced-delays-xrp-etf-and-spot-xrp-funds)