The SEC has set deadlines for various XRP ETF applications, including those from Grayscale and 21Shares, with decisions expected by late 2025. There is optimism within the XRP community for potential approvals this year, amid a broader context of 72 crypto ETFs awaiting SEC review.
The XRP community is closely monitoring key deadlines set by the SEC for numerous spot-based XRP ETF applications. With increasing interest from asset managers, over ten firms, including notable names such as Grayscale, 21Shares, Bitwise, and WisdomTree, have submitted S-1 applications to launch XRP ETFs in the U.S. Additionally, exchanges like Cboe and NYSE Arca have filed 19b-4 requests to list these ETFs.
A prominent member of the XRP community, GA Spark, highlighted that the SEC has a maximum of 240 days to respond to the ETF applications, starting from when the applications were acknowledged. The SEC had previously deferred decisions on several filings, leading to heightened anticipation among XRP supporters regarding the outcomes of the outstanding applications.
According to GA Spark, the SEC must decide on Grayscale’s XRP Trust conversion to a spot-based ETF by October 18, 2025. Other application deadlines include 21Shares on October 19, Bitwise on October 20, and Canary on October 24. The SEC’s review for WisdomTree, CoinShares, and Franklin is due on October 25, 2025. The SEC may also select an earlier date for announcing decisions, reflecting past practices with Bitcoin and Ethereum ETFs.
Current betting on Polymarket indicates a 79% chance that at least one XRP ETF will receive SEC approval by the end of the year, though the likelihood has dropped to 43% for approval by July 31. This optimism is tied to the SEC’s evolving approach to crypto regulation, which is perceived as more supportive compared to previous years. However, confirmation remains pending.
In a broader context, the XRP ETFs represent a fraction of the 72 crypto spot-based exchange-traded funds awaiting SEC endorsement. These include other cryptocurrencies such as Solana, Dogecoin, and Cardano, as per Bloomberg ETF analyst Eric Balchunas.
