The landscape for XRP investment is on the brink of a monumental shift. As the U.S. Securities and Exchange Commission (SEC) actively reviews multiple applications for XRP Exchange-Traded Funds (ETFs), the odds of approval have significantly improved. This renewed optimism stems directly from the dismissal of the Ripple lawsuit, which provided long-awaited regulatory clarity for XRP’s status.
With the path now clearer, a host of major financial players have thrown their hats in the ring, seeking to offer investors regulated, easy access to XRP through traditional stock exchanges. While one futures-based product has already gone live, all eyes are on the upcoming deadlines for a wave of spot XRP ETFs that would directly hold the digital asset.
Here’s a detailed breakdown of the XRP ETF filings currently pending with the SEC.
List of XRP ETFs Filings with the SEC
The applicants range from crypto-native firms to traditional finance giants, each proposing a unique product. They are broadly categorized into futures-based ETFs and spot ETFs.
Launched & Futures-Based ETFs
These products offer exposure to XRP through futures contracts rather than holding the asset directly.
ProShares Ultra XRP ETF: Setting a precedent, ProShares filed its application on January 17, 2025, and received SEC approval for listing on the NYSE Arca. The ETF successfully launched on July 18, 2025, offering investors 2x leveraged exposure to XRP futures.
Volatility Shares XRP ETF: Filed on May 21, 2025, this application proposes both a 1x and a 2x leveraged XRP futures ETF. The initial decision timeline in July 2025 was delayed as the SEC continues its review.
Spot ETFs and Trust Conversions Awaiting a Verdict
The most anticipated applications are for spot ETFs, which would give investors direct exposure to XRP’s price movements by holding the cryptocurrency itself. A critical cluster of decision deadlines for these filings is set for October 2025.
Grayscale XRP ETF: A major player in digital asset trusts, Grayscale filed on November 21, 2024, to convert its existing XRP Trust into a spot ETF. The final decision from the SEC is expected on October 18, 2025.
21Shares XRP ETF: In partnership with ARK Invest, 21Shares filed on November 21, 2024, to list its Core XRP Trust on the Cboe BZX Exchange. The SEC acknowledged the application on February 19, with a final deadline of October 19, 2025.
Bitwise: Known for its crypto index funds, Bitwise filed for a spot XRP ETF on December 2, 2024. The SEC is scheduled to make its final decision on October 20, 2025.
Canary Capital: Filing on October 8, 2024, Canary Capital aims to launch a spot XRP ETF allowing direct exposure without the complexities of self-custody. Its final decision date is October 24, 2025.
WisdomTree: This established ETF provider filed for a spot XRP ETF on December 2, 2024. The final verdict from the SEC is expected on October 25, 2025.
Franklin Templeton: The global investment giant entered the race in March 2025, filing for a spot XRP ETF to provide an institutional-grade vehicle for holding XRP. Its deadline also falls on October 25, 2025.
CoinShares: Filing on January 24, 2025, CoinShares is seeking to launch a spot XRP ETF for direct, regulated exposure. The final decision is anticipated on October 25, 2025.
RexShares Rex-Osprey: This application for a spot XRP ETF was filed on January 21, 2025. A decision expected in July was delayed, giving the SEC more time to complete its review.
What’s Next? A Potential Floodgate of Crypto ETFs
The intense focus on these individual deadlines may be part of a larger trend. In a recent interview with CNBC, Nate Geraci, President of NovaDius Wealth Management, suggested that the SEC could be working toward a broader policy for digital assets.
Geraci stated he expects a “standardized crypto framework” to be released, which would create a clear path for various crypto ETFs beyond just Bitcoin and Ethereum. This framework would oversee issuers for XRP, Solana, Cardano, HBAR, and other digital asset ETFs.
If this happens, “We’re going to see a wave of approvals, and you’re going to see a boatload of new crypto ETFs coming to market,” Geraci predicted. This suggests that the October 2025 deadlines could trigger not just the launch of XRP ETFs but a new era for crypto investing in the United States.
Frequently Asked Questions (FAQs) About XRP ETFs
How many XRP ETF applications are pending with the SEC?
Eight major XRP ETF filings are awaiting SEC decisions, with most of the key deadlines clustered in October 2025.
What does Ripple’s lawsuit dismissal mean for XRP ETFs?
The lawsuit’s dismissal has provided significant regulatory clarity regarding XRP’s status, which is a crucial factor for the SEC. This development greatly improves the odds of ETF approval.
Could multiple XRP ETFs launch in 2025?
Yes. Based on the concentration of deadlines, experts believe a wave of both spot and futures XRP ETF approvals could occur between October and December 2025, potentially leading to multiple launches.
