XRP News Today: XRP ETFs Near Approval as Firms Remove SEC Delays

Franklin Templeton, one of the world's largest asset managers, has taken a decisive step toward launching its XRP exchange-traded fund (ETF) by updating its S-1 registration statement to remove the "8(a)" delay clause, a procedural hurdle that typically allows the U.S. Securities and Exchange Commission (SEC) to postpone approval, according to a CryptoBriefing report. This move signals the firm's intent to launch the product as early as this month, aligning with a broader industry push to bring XRP ETFs to market amid evolving regulatory clarity. The 8(a) provision, which traditionally grants the SEC authority to block an ETF's effectiveness until it approves the filing, has been eliminated, enabling the fund to become effective automatically once all conditions are met, according to a Cryptopolitan report.

The shift mirrors strategies employed by Bitcoin and Ethereum ETF issuers earlier this year, who similarly removed the 8(a) clause to expedite approvals. Franklin Templeton's action underscores growing confidence that the SEC will not object to XRP-related products, particularly as regulatory frameworks for crypto ETFs solidify and institutional demand for digital assets intensifies, as Cryptopolitan reported. The firm, which manages over $1 trillion in assets, already offers Bitcoin and Ethereum ETFs, reflecting its expanding cryptocurrency investment portfolio, Cryptopolitan noted.

Franklin Templeton is not alone in its urgency. Competitors such as Bitwise and Canary Funds have also revised their S-1 filings in recent weeks. Bitwise confirmed its XRP ETF will list on the New York Stock Exchange with a 0.34% management fee, a detail typically added in the final stages before launch, according to a CoinPedia report. Canary Funds, meanwhile, has removed its own delaying amendment and aims for a mid-November debut, pending exchange approval, Cryptopolitan reported. These developments suggest a coordinated industry effort to capitalize on a favorable regulatory environment and meet investor demand for regulated exposure to XRP.

The potential approval of XRP ETFs has already sparked market speculation about price movements. Pro-XRP attorney Bill Morgan anticipates a steady, rather than explosive, rise in XRP's value post-launch, projecting a return to the $3 level, according to a CoinPedia interview. Historical precedents, such as the 18% surge in Hedera's price following its ETF debut, further fuel optimism, CoinPedia noted. Analysts note that XRP ETFs could replicate the success of Bitcoin ETFs, which attracted billions in inflows shortly after launch, by offering retail and institutional investors a straightforward, custody-free way to participate in the cryptocurrency's price action, Cryptopolitan observed.

The SEC's evolving stance on crypto ETFs remains a critical factor. While the agency has approved Bitcoin and Ethereum products, it continues to scrutinize XRP filings due to its ongoing legal battle with Ripple Labs. However, the recent settlement between Ripple and the SEC has cleared a major obstacle, with experts suggesting the first XRP ETF could receive approval by mid-November, CoinPedia reported. If realized, this would mark a pivotal moment in crypto's integration into traditional finance, expanding access to one of the most traded cryptocurrencies while reinforcing institutional confidence in digital assets, according to a CoinOtag analysis.