XRP ETF Showdown: Why July 14, 21, and 25 Could Ignite the Next Crypto Surge

The race to launch the first XRP ETF is reaching a fever pitch—and three dates could decide everything.

The Regulatory Countdown Begins

July 14 marks the first critical deadline for SEC filings, with analysts calling it a make-or-break moment for institutional interest. Then comes July 21—when whispers of a BlackRock decision could send shockwaves through the market. But all eyes are on July 25: the final deadline for any issuer hoping to ride the 2025 crypto ETF wave (and collect those sweet, sweet management fees).

Why This Isn’t Just Another Crypto Hype Cycle

Unlike last year’s meme-driven rallies, this showdown involves real players betting big on regulatory clarity. XRP’s unique legal position—neither fully decentralized nor a traditional security—makes it the perfect test case for Wall Street’s cautious embrace of crypto. Of course, bankers will still find a way to take 2% for ‘custodial services.’

One thing’s certain: by month’s end, we’ll know whether XRP joins the big leagues—or becomes another cautionary tale in finance’s slow dance with blockchain.

ProShares Leads XRP Futures ETF Push

ProShares is at the forefront with three XRP futures ETF proposals, all pending regulatory greenlights. Particularly, the ETF issuer is planning to launch three XRP futures ETFs, aiming for a July 14 debut, following an April postponement.

The products, the Ultra XRP ETF, UltraShort XRP ETF, and Short XRP ETF, had initially been postponed but are now back on track, as confirmed by the SEC’s acknowledgement of their filings. These ETFs are designed to give both long and inverse exposure to xrp price movements. 

Unless the SEC raises objections before the deadline, ProShares expects to MOVE forward with all three ETFs on July 14. If approved on schedule, ProShares could set a precedent for futures-based XRP investment products in the United States, making this date the first critical checkpoint in the July ETF rush.

The second wave arrives on July 21, with two issuers entering the spotlight. Volatility Shares is preparing to launch its 2X XRP ETF, which aims to provide an amplified 2x exposure to XRP’s daily price movements. July 21 also marks the first listing and trade day for Volatility Shares’ standard XRP ETF. Simultaneously, Tuttle Capital is aiming to bring its 2X Long XRP Daily Target ETF to market. According to filings and updates, both firms have received SEC acknowledgment, with the necessary forms filed and effective for launch by the target date.

When Spot XRP ETFs?

Although the SEC has allowed several XRP futures-based ETFs to start trading, it has yet to approve any spot-based versions. The final and perhaps most critical date for XRP ETFs in July is on July 25, when the SEC is expected to decide on the REX-Osprey XRP ETF, which is a spot ETF, rather than a futures-based one. 

This is notable because a green light WOULD mark one of the first Spot XRP ETFs approved in the US market. However, the first Spot XRT ETF could start trading this month unless the SEC steps in. That would represent a major shift in regulatory tone, especially given the SEC’s prior resistance to XRP’s legal status. Other major players such as Bitwise, 21Shares, and CoinShares are also in line with their spot XRP ETF filings, which could follow suit if the REX-Osprey decision sets a favorable precedent.