The XRP ETF market continues to evolve following Ripple’s legal victory in August, forming a basis for institutional acceptance of XRP.
First XRP ETF Already Live
ProShares became the first to gain SEC approval in July for its Ultra XRP ETF.
Launched on NYSE Arca on July 18, the fund provides 2x leveraged exposure to XRP futures, marking a historic milestone for the asset.
Wave of Spot ETF Applications
A flood of spot XRP ETFs is now awaiting final judgment. Grayscale is seeking to convert its XRP Trust into an ETF, with a decision deadline set for October 18, 2025. Following that, the SEC must rule on 21Shares’ Core XRP Trust on October 19 and Bitwise on October 20.
Also among other filings are documents from Canary Capital, WisdomTree, and Franklin Templeton, all aiming to provide direct, regulated exposure to XRP.
What Comes Next?
Industry observers believe the SEC will eventually issue a standardized framework to handle the wave of crypto ETF proposals. Nate Geraci, president of NovaDius Wealth Management, noted that such a framework is likely to cover XRP alongside other major assets like Solana and Cardano.
With so many applications converging on late October deadlines, the SEC’s rulings could determine whether XRP joins Bitcoin and Ethereum in the mainstream ETF market or faces further delays.
The development of XRP ETFs opens new horizons for the cryptocurrency market, but the fate of these applications hinges on SEC decisions in the coming months.
