XRP ETF is anticipated to receive SEC approval in the first quarter of 2025, driven by high interest and legal support.
Leading Participants in XRP ETF Applications
Key participants in filing for XRP ETF include Grayscale, WisdomTree, Canary, Coinshares, 21Shares, and Bitwise. Companies like 21Shares, WisdomTree, and Bitwise have ongoing or approved XRP ETF applications in the UK and EU.
Analysis of Grayscale's XRP ETF Application
Grayscale officially filed for a U.S. XRP ETF on January 31, 2025, aiming for SEC approval to convert its XRP Trust into an ETF. Grayscale also has active filings for Solana and Dogecoin, alongside existing Bitcoin and Ethereum ETFs.
Potential for XRP ETF Approval
XRP ETFs have a strong chance of approval due to XRP's significant utility in cross-border payments and its clear legal status. In 2024, XRP was classified as 'not a security' after lengthy legal proceedings, increasing confidence in the ETF's approval.
XRP ETFs could become a major force in the crypto investment landscape due to their strong fundamentals and legal clarity, potentially rivaling existing Bitcoin ETFs.
