XRP ETFs on the Brink: SEC Approval Timeline, Key Filings, and Market Impact

The SEC's desk is buried under a fresh avalanche of XRP ETF applications—each one a potential game-changer for crypto's most contentious asset. Here's what Wall Street isn't telling you.

### The Waiting Game: 2025's Make-or-Break Deadlines

August filings reveal at least three heavyweight asset managers racing to launch the first XRP ETF. Sources whisper approvals could drop by Q4—if the SEC stops treating crypto like a radioactive piñata.

### Paperwork Poker: How Filings Expose Institutional Hunger

BlackRock's 37-page prospectus dropped subtle hints: 'Digital asset infrastructure maturity' is code for 'we want in before the plebs.' Meanwhile, Grayscale's amendment sneers at the SEC's 2023 rejection with 200 pages of compliance overkill.

### The Ripple Effect: What Approval Really Means

A green light would flood XRP with boomer retirement funds—and finally shut up the 'it's not a real cryptocurrency' crowd. But let's be real: Wall Street only loves decentralization when it can slap a 2% management fee on it.

The clock's ticking. Either the SEC adapts or watches the next Bitcoin-sized opportunity slip through its fingers—again.

The U.S. Securities and Exchange Commission (SEC) is currently reviewing several applications for XRP-based exchange-traded funds (ETFs). The agency recently published its listing guidelines, which say that a cryptocurrency can qualify for an ETF if it has been traded in futures markets for at least six months on platforms like Coinbase’s derivatives exchange.

While Canada launched multiple XRP ETFs back in June 2025, U.S. applications are still waiting for approval. The SEC is expected to announce its final decision on most of these applications by October 2025.

Currently, the only approved XRP ETF in the US is the ProShares Ultra XRP ETF. This fund, which includes both Leveraged and inverse XRP strategies, was filed on January 17, 2025. The SEC approved its listing on NYSE Arca in mid-July.

List of XRP ETFs Waiting for SEC Approval 

• Grayscale XRP ETF: Application filed on January 13, 2025, to convert its XRP Trust to an ETF, via Form 19b-4. Final deadline for approval or disapproval is expected on October 18, 2025. 

• 21Shares XRP ETF: Application filed on November 21, 2024, via Form 19b-1, acknowledged by the SEC on February 19, 2025. Final decision on approve or disapprove will be made on October 19, 2025. 

• Bitwise XRP ETF: Application filed on December 2, 2024, via Form S-1,  acknowledged by the SEC on February 19, 2025. Final deadline for approval or disapproval is expected on October 20, 2025. 

• Canary Capital XRP ETF: Application filed on October 8, 2024, via Form S-1, acknowledged by the SEC on February 19, 2025. Final deadline for approval or disapproval is expected on October 24, 2025. 

• Wisdom Tree XRP ETF: Application filed on December 2, 2024, via Form S-1, acknowledged by the SEC on February 19, 2025. Final deadline for approval or disapproval is expected on  October 25, 2025. 

• Franklin Templeton XRP ETF: Application filed on March via Form S-1. Final deadline for approval or disapproval is expected on  October 25, 2025. 

• CoinShares: Application filed on January 24, 2025, via Form S-1, acknowledged on February 19, 2025. Final deadline for approval or disapproval is expected on  October 25, 2025. 

• RexShares Rex-Osprey XRP ETF: Application filed on January 21, 2025, via Form S-1. The SEC was expected to make a decision on July 25, but it got delayed, allowing more time to review before granting approval.