XRP News Today: SEC's 20-Day Clock Ticks for XRP ETF Approval

The U.S. cryptocurrency market is on the brink of a significant shift as asset managers race to launch the first spot XRP exchange-traded fund (ETF). Major players like 21Shares US LLC and Franklin Holdings LLC have submitted updated filings with the Securities and Exchange Commission (SEC), signaling a pivotal moment for institutional adoption of XRP, the Bitcoin News report.

The filings, which include 21Shares' 8(a) registration and Franklin's third amendment to its S-1 registration, could lead to automatic approval if the SEC does not intervene within a 20-day window, Live Bitcoin News reported. This regulatory development has reignited optimism about XRP's institutional legitimacy, with Canary Capital CEO Steven McClurg predicting the ETF could "probably double what Solana did" in terms of market impact, the Bitcoin News report.

The proposed XRP ETFs, set to trade on exchanges like Cboe BZX and NYSE Arca, will track the CME CF XRP-Dollar Reference Rate and avoid derivatives or leverage, the Bitcoin News report. Custody will be managed by regulated entities such as Coinbase Custody and BitGo Trust, ensuring institutional-grade security, Live Bitcoin News reported. Bloomberg analyst Eric Balchunas highlighted 21Shares' filing as a "20-day clock" to market entry, with a potential launch date as early as November 27, Coinfomania reported. Franklin's XRP ETF, under ticker "XRPZ," similarly aims for a swift regulatory green light, reflecting growing demand for crypto exposure amid volatile markets, the Bitcoin News report.

The XRP ETF race is not occurring in isolation. Bitwise's Solana ETF (BSOL) has already demonstrated strong institutional interest, amassing $545 million in net inflows since its October 28 debut, Yahoo Finance reported. Despite Solana's price decline of over 29% in the past month, the ETF's performance-outpacing Bitcoin and Ethereum funds-underscores a shift toward altcoin-based products, CryptoDnes reported. This trend aligns with Canary Capital's strategy, as the firm removed a "delaying amendment" from its XRP ETF filing, aiming for a November 13 launch, The Coin Rise report. Such momentum suggests that XRP ETFs could follow a similar trajectory to Solana's, with McClurg's bold projection hinting at a potential price surge if institutional capital flows in.

The broader market context reveals a growing appetite for crypto ETFs. WisdomTree's recent filing for a 20-coin spot ETF, including 20% XRP exposure, further validates institutional confidence, The Coin Rise report. Meanwhile, HBAR's price rebound-boosted by $71 million in ETF inflows and Google Cloud's BigQuery integration-illustrates how blockchain data accessibility is attracting traditional investors, Crypto News reported. Analysts like Nate Geraci anticipate multiple XRP ETF approvals soon, which could drive liquidity and price discovery for the asset, Coinfomania reported.

Regulatory clarity remains a critical factor. The SEC's 20-day review period for 21Shares' ETF will set a precedent for future crypto ETFs. If approved, the product could redefine XRP's market role, offering a regulated pathway for investors wary of direct crypto ownership, Coinfomania reported. As Bayberry Capital notes, XRP remains undervalued despite its real-world utility, and ETFs may catalyze broader adoption, Coinfomania reported.