The cryptocurrency world is abuzz with anticipation surrounding the potential approval of spot XRP Exchange Traded Funds (ETFs), with the U.S. Securities and Exchange Commission (SEC) expected to make pivotal decisions this October. A flurry of recent activities from leading issuers suggests that these highly sought-after investment vehicles might be "getting close" to launch.
Amendments Signal Progress for Spot XRP ETFs
Expected decisions from the SEC on six distinct XRP ETF applications, including those from Grayscale, 21Shares, Bitwise, Canary Capital, WisdomTree, and CoinShares, are slated for mid-to-late October. Adding to this mounting expectation, several major issuers—such as Bitwise, Franklin, 21Shares, WisdomTree, Grayscale, and Canary—have recently filed amendments to their S-1 registration statements for spot XRP ETFs. These crucial amendments, some even introducing official ticker symbols like Grayscale's "GXRP," are a significant development. For a spot ETF to launch, the SEC must approve these S-1 filings, making these recent submissions a strong indicator of advancing preparations and potential imminent approvals.
Regulatory Roadblocks and Lingering Uncertainty
Despite the positive indicators, the path to XRP ETF approval isn't without its challenges. The start of October saw the SEC miss an ETF approval deadline, a delay attributed to an ongoing government shutdown. This shutdown has left the agency operating with a "skeleton crew," potentially impacting its ability to sign off on critical S-1 documents. Furthermore, industry experts speculate that with the generic listing standard in effect and the withdrawal of certain 19b4s, traditional deadlines might hold less weight. Ultimately, spot crypto ETFs, including those for XRP, are unlikely to begin trading until the SEC officially declares their S-1s effective, a step that may only be fully realized once the government shutdown concludes and the agency resumes full operational capacity.
