\nETF Name \/ Applicant<\/strong><\/td>\nType<\/strong><\/td>\nFiling Date<\/strong><\/td>\nSEC Deadline<\/strong><\/td>\nStatus<\/strong><\/td>\n<\/tr>\n\nFranklin Templeton<\/td>\n Spot<\/td>\n Mar 2025<\/td>\n Nov 14, 2025<\/td>\n Extended review<\/td>\n<\/tr>\n \nProShares Ultra XRP<\/td>\n Futures<\/td>\n Jan 2025<\/td>\n Approved Jul 18<\/td>\n Trading live<\/td>\n<\/tr>\n \n21Shares<\/td>\n Spot<\/td>\n Nov 2024<\/td>\n Oct 19, 2025<\/td>\n Pending<\/td>\n<\/tr>\n \nBitwise<\/td>\n Spot<\/td>\n Dec 2024<\/td>\n Oct 20, 2025<\/td>\n Pending<\/td>\n<\/tr>\n \nCanary Capital<\/td>\n Spot<\/td>\n Oct 2024<\/td>\n Oct 24, 2025<\/td>\n Pending<\/td>\n<\/tr>\n \nCoinShares<\/td>\n Spot<\/td>\n Jan 2025<\/td>\n Oct 25, 2025<\/td>\n Pending<\/td>\n<\/tr>\n \nWisdomTree<\/td>\n Spot<\/td>\n Dec 2024<\/td>\n Oct 25, 2025<\/td>\n Pending<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\nFollowing a 60-day extension, Franklin Templeton\u2019s filing has emerged as a focal point, with a final SEC decision scheduled for November 14, 2025. Several other applications: 21Shares, Bitwise, and others, face October decision deadlines.<\/p>\n
Regulatory Landscape<\/strong><\/h2>\nRegulatory hesitation remains the single largest hurdle for XRP ETFs. The SEC\u2019s decision to extend Franklin Templeton\u2019s review illustrates a cautious stance similar to earlier processes for Bitcoin and Ethereum ETFs, which took several years from filing to approval.<\/p>\n
In the U.S., XRP\u2019s regulatory path has been shaped by the SEC vs. Ripple case, where a federal court ruled XRP is not a security in secondary sales. While the ruling improved XRP\u2019s standing, ongoing appeals and policy ambiguity still cloud near-term approval prospects.<\/p>\n
Internationally, the picture is more favorable. Europe lists multiple XRP ETPs, and Asian markets have historically adopted crypto investment vehicles more quickly. This global acceptance may eventually put pressure on the SEC to align with overseas precedents.<\/p>\n
Potential Benefits of an XRP ETF<\/strong><\/h2>\n\nInvestor Accessibility<\/strong>: Traditional brokerage accounts could provide seamless exposure to XRP.<\/li>\nMarket Transparency<\/strong>: Daily net asset value reporting enhances trust and oversight.<\/li>\nLiquidity Boost<\/strong>: ETF trading could expand XRP market depth, reducing volatility over time.<\/li>\nPortfolio Diversification<\/strong>: Asset managers gain an additional regulated crypto product to offer clients.<\/li>\n<\/ul>\nRisks and Challenges<\/strong><\/h2>\n\nRegulatory Uncertainty<\/strong>: SEC extensions and appeals prolong timelines, deterring institutional participation.<\/li>\nVolatility<\/strong>: XRP\u2019s price swings\u2014such as September\u2019s brief 3% rally and quick reversal\u2014reflect ongoing fragility.<\/li>\nCustody Complexities<\/strong>: Ensuring secure, compliant custody for large XRP holdings is a technical and operational challenge.<\/li>\nCompetition<\/strong>: Bitcoin and Ethereum ETFs already command investor attention, potentially limiting XRP inflows.<\/li>\nReputational Overhang<\/strong>: Past delistings and legal disputes could weigh on sentiment and ETF adoption.<\/li>\n<\/ul>\nMarket Outlook and Scenarios<\/strong><\/h2>\nShort Term<\/strong><\/h3>\n\nSEC delays have muted speculative demand, with rallies stalling on regulatory headlines.<\/li>\n November 14, 2025, stands as a pivotal date; an approval for Franklin Templeton\u2019s ETF could trigger significant inflows.<\/li>\n<\/ul>\nMedium to Long Term<\/strong><\/h3>\n\nHistorical patterns from Bitcoin and Ethereum suggest spot approval could still take years.<\/li>\n If approval is granted, inflows are estimated in the $5\u2013$15 billion range, potentially lifting XRP prices toward $4\u2013$6 by late 2025.<\/li>\n In parallel, progressive regulatory stances in Europe and Asia may allow XRP ETFs abroad to develop ahead of the U.S.<\/li>\n<\/ul>\nScenario Outlook<\/strong><\/p>\n\n\n\n\nFactor<\/strong><\/td>\nBullish Case<\/strong><\/td>\nCautious Case<\/strong><\/td>\n<\/tr>\n\nInflows<\/td>\n Strong and immediate post-approval<\/td>\n Weak or staggered, possible profit-taking<\/td>\n<\/tr>\n \nPrice Impact<\/td>\n Repricing to $4\u2013$6<\/td>\n Rangebound with discount risk<\/td>\n<\/tr>\n \nAdoption<\/td>\n Funds and asset managers adopt ETFs rapidly<\/td>\n SEC delays and extended reviews slow uptake<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/figure>\nConclusion<\/strong><\/h2>\nThe journey toward an XRP ETF highlights both progress and caution. The approval of the ProShares Ultra XRP futures ETF demonstrates regulatory openness, yet the fate of spot products rests on the SEC\u2019s November 14 ruling and possible appeals. Prediction markets price in high odds of approval this year, but lessons from Bitcoin and Ethereum ETFs suggest delays may persist. <\/p>\n
XRP\u2019s established role in global payments and deep liquidity make it a strong candidate for ETF adoption. Still, long-term success hinges on consistent inflows and institutional confidence, positioning XRP as a key test case for altcoin integration.<\/p>\n
\n\u201cAs institutional adoption via ETFs and RLUSD integration gains traction, we can expect temporary dips to reverse swiftly, reigniting transaction volumes and propelling XRP toward its role as a vital bridge between TradFi and DeFi.\u201d<\/em> \u2013 Alexis Sirkia, Captain of the Yellow Network<\/p>\n<\/blockquote>\n