XRP News Today: XRP ETF Approvals Could Cement Crypto's Institutional Future

Canary Capital is advancing toward a potential U.S. launch of its XRP exchange-traded fund (ETF) as regulatory and operational developments align to support its market entry. The firm recently filed an amended S-1/A with the Securities and Exchange Commission (SEC), updating key details for its proposed XRP Spot ETF, including a ticker change to XRPC and a listing on the Cboe BXZ Exchange. The ETF will trade in 10,000-share blocks, with XRP custodied by Gemini Trust Company and BitGo Trust Company, and audited by Cohen and Company, replacing prior auditors Blockonomi^[3]. This follows Canary's earlier reduction of sponsor fees for its XRP and Solana (SOL) ETFs to 0.50%, a strategic move to enhance competitiveness amid a growing market of crypto ETF applicants The Crypto Times^[1].

The broader regulatory environment is shifting rapidly. The SEC's new S-1 framework, introduced in late 2025, streamlines the approval process for crypto ETFs by eliminating strict timelines but has faced delays due to the U.S. government shutdown. Approximately 90 ETF filings, including those from Grayscale, Bitwise, and WisdomTree, remain pending as the agency operates with limited staff Coinpedia.org^[2]. Despite this, Bloomberg ETF analyst Eric Balchunas noted that the SEC is preparing to batch approve multiple crypto ETFs, potentially accelerating market access for issuers like Canary The Crypto Times^[1]. If approved, Canary's XRPC ETF could be among the first to launch under the reformed process, signaling a shift from speculative crypto assets to institutional-grade products The Crypto Times^[1].

Canary's XRPC ETF is structured as an exchange-traded product, not a registered investment fund under the Investment Company Act of 1940, which means investors will lack protections typical of traditional mutual funds. The fund's net asset value will track XRP using the CoinDesk XRP CCIXber 60-minute New York Rate, aggregating trades across major platforms Blockonomi^[3]. Shareholders may experience premiums or discounts relative to the net asset value, depending on secondary market dynamics. U.S. Bancorp Fund Services will administer transactions, while authorized participants can subscribe or redeem shares using cash or XRP Blockonomi^[3].

The competitive landscape for XRP ETFs is intensifying. Six XRP ETFs, including the Volatility Shares XRPI and ProShares UXRP, are already live in the U.S., offering futures or leveraged exposure. Dozens of spot ETF applications remain in the pipeline, with final deadlines ranging from October 18 to October 25, 2025 Coinpedia.org^[2]. Bitwise and WisdomTree have set fees as low as 0.20%, adding pressure on Canary to attract retail and institutional investors The Crypto Times^[1]. Analysts project that ETF inflows could reach $5–$11 billion in the first year post-approval, potentially driving XRP's price to $12 from its current $3 level, assuming a 272x valuation multiplier observed in prior inflows Markets.FinancialContent.com^[7].

The resolution of Ripple's long-standing legal battle with the SEC in August 2025 has further bolstered XRP's institutional appeal. The first U.S.-listed spot XRP ETF, REX-Osprey XRPR, launched on September 18, 2025, with strong trading volume. Institutional investors now hold over $928 million in XRP, signaling confidence in its regulated adoption . Legal expert John Deaton linked this trend to Bitcoin ETFs' success, predicting that XRP and other altcoins will follow a similar path as Wall Street seeks to replicate proven models Coinedition.com^[6]. If approved, leveraged XRP ETFs could further diversify institutional strategies, mirroring existing products for Bitcoin and Ethereum .

Market analysts highlight XRP's potential as a bridge currency for global payments, supported by Ripple's partnerships with 1,000+ financial institutions. Projections suggest that XRP could trade in the $50–$100 range by 2035 if ETFs unlock sustained institutional demand, translating to a $3–$6 trillion market cap . However, short-term price action remains volatile, with XRP consolidating near $3.04 and facing resistance at $3.18. A breakout above this level could target $3.30–$3.35, while further weakness may push the token to $2.85–$2.90 .

Canary's progress reflects a broader trend of crypto ETFs transitioning from speculative assets to mainstream financial instruments. The firm's strategic adjustments-reduced fees, multi-asset approvals, and compliance with the SEC's evolving framework-position it to capitalize on regulatory clarity. As the October deadline for batch approvals approaches, the outcome will likely shape XRP's trajectory and set a precedent for other digital assets. Institutional adoption, driven by regulated products like the XRPC ETF, could redefine XRP's role in global finance, bridging traditional banking and blockchain innovation .