SEC to Review Six XRP Spot ETF Applications

TLDR

Table of Contents

The SEC will review six XRP ETF applications between October 18 and 25.
Grayscale’s and Bitwise’s XRP ETFs are among the top proposals for review.
Recent SEC updates may expedite approval for crypto ETFs, including XRP.
The launch of REX-Osprey XRP ETF marks a new phase for XRP-related investments.

The U.S. Securities and Exchange Commission (SEC) is poised for a critical week in October as it reviews six applications for spot XRP exchange-traded funds (ETFs). These decisions, scheduled between October 18 and October 25, could position XRP as the third cryptocurrency to gain approval for U.S.-listed spot ETFs, following Bitcoin and Ethereum.

Key Application Dates and Upcoming Rulings

The first of the high-profile filings will be Grayscale’s XRP ETF, which is set for review on October 18. This will be followed by the 21Shares Core XRP Trust ETF on October 19. Bitwise’s XRP ETF will come under consideration on October 22, with rulings on Canary Capital’s and CoinShares’ proposals scheduled for October 23. The final decision of the week will focus on WisdomTree’s XRP ETF filing on October 24.

These ETF proposals are being reviewed as the SEC adjusts its approach to crypto ETF approvals. The agency recently updated its listing standards for crypto ETFs, moving beyond the previous case-by-case framework. This shift is expected to speed up approval processes and potentially open the door for more crypto assets, like XRP, to be included in future ETFs.

First U.S.-Listed XRP Spot ETF Launched

Meanwhile, the launch of the first U.S.-listed ETF tied to spot XRP, the REX-Osprey XRP ETF (ticker: XRPR), occurred in late September. The product quickly expanded, adding options trading to its offering. This development signals the growing interest and entry of XRP-related investment vehicles into regulated markets, suggesting that XRP’s position within the broader financial landscape is evolving.

The approval of such ETFs marks a significant milestone for the cryptocurrency sector, particularly as it pushes forward with efforts to integrate into traditional financial markets. The increased interest in XRP-related ETFs reflects the growing adoption of cryptocurrencies as mainstream investment products.

Changes in Crypto ETF Regulation

In addition to these applications, the SEC’s approval of the Hashdex Index ETF under its updated crypto listing standards also signals changes in the regulatory dynamics surrounding cryptocurrency ETFs. This new framework aims to streamline the approval process for ETFs, making it easier for other crypto assets, such as XRP, to enter regulated financial markets.

With several XRP ETFs under consideration and a regulatory framework evolving to accommodate digital assets, the upcoming decisions by the SEC will likely have significant implications for the future of XRP and the broader cryptocurrency market.

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