XRP News Today: Major Asset Managers Seek SEC Approval for Spot XRP ETFs

Several major asset managers have submitted filings for spot XRP Exchange-Traded Funds (ETFs) and are awaiting final decisions from the U.S. Securities and Exchange Commission (SEC). The list of applicants includes Bitwise, Canary Capital, 21Shares, WisdomTree, CoinShares, Grayscale, and Franklin Templeton. Most of these filings were acknowledged by the SEC in February 2025, with final decision deadlines set for October 2025.

The exchanges involved in these filings include Cboe, Nasdaq, NYSE Arca, and Cboe BZX, indicating a broad institutional interest in launching XRP-based products. Bitwise is notable for being the first to file for a spot XRP ETF, with its filing acknowledged by the SEC in February. Additionally, Bitwise’s ETP is already live and holds over 109 million XRP in cold storage. This significant holding suggests a strong institutional interest in XRP and the potential for increased market activity once more spot XRP ETFs are approved.

The growing institutional demand for regulated XRP investment vehicles is evident from the list of applicants and the scale of assets involved. Established firms such as Grayscale and Franklin Templeton, alongside newer entrants, are competing to capture early market share. Several applications propose innovative structures, such as including XRP among multiple digital assets within broader ETF offerings. For instance, 21Shares filed to list its Core XRP Trust shares on the Cboe BZX Exchange in November, and Grayscale followed suit in January, applying to convert its XRP Trust into a spot ETF.

Grayscale’s filing has the closest deadline, set for October 18, while Franklin Templeton, WisdomTree, and CoinShares have the farthest deadline, set for October 25. However, many market participants are optimistic that the SEC will approve these products earlier than the deadlines. One commenter argued that the commission has no excuse for delaying approval, and the community's confidence is reflected in Polymarket raising the likelihood of XRP ETF approval to 85%. As the deadlines approach, all eyes are on the SEC to see if XRP will finally join the ETF ranks in the U.S.