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Story Highlights

• The final date of SEC decision on $XRPETF lies between October to december 2025.

• Analysts believe that the approval could unlock billions in inflows, potentially surpassing BTC and ETH.

  

Around eleven spot $XRPETF proposals are awaiting the US Securities and Exchange Commission’s (SEC) decision. Analysts, including Dom Kwok, founder of EasyA, recently said that the approval could unlock billions in inflows, potentially making $XRPETFs larger than Bitcoin or Ethereum.

Full List of $XRPETF Filing

Data collected by Bloomberg Intelligence.

1. ProShares Ultra $XRPETF (only approved application so far)

• Application filed on January 17, 2025, and the SEC approved for listing on the NYSE Arca in mid-July 2025.

• The ETF subsequently launched on July 18, 2025, providing 2x leveraged exposure to $XRPfutures.

2. Grayscale $XRPETF

• Prospectus filed September 5, 2024. Form 19b-1 submitted on January 30, 2025.

• First deadline– April 6, 2025; Second deadline– May 21, 2025; Third deadline– August 19, 2025.

• The SEC’s final decision is expected to be made on October 18, 2025.

3. Grayscale Avalanche Trust for $XRP

• Application filed on August 25, 2025, to convert its $XRPTrust to an ETF. Form 19b-1 submitted on March 25, 2025.

• First deadline– May 31, 2025; Second deadline– July 15, 2025; Third deadline– October 13, 2025.

• The SEC’s final decision is expected to be made on December 12, 2025.

4. 21Shares $XRPETF

• Prospectus filed on November 1, 2024. Form 19b-4 to register its Core $XRPTrust shares for listing on the Cboe BZX Exchange was submitted on February 6, 2025.

• First deadline– April 7, 2025; second deadline– May 22, 2025; third deadline– August 20, 2025.

• SEC officially acknowledged the application on February 19. Final decision on approve or disapprove will be made on October 19, 2025.

5. Bitwise

• Prospectus filed on October 2, 2024, via Form S-1 to launch a spot $XRPETF that would hold $XRPdirectly. Form 19b-4 submitted on February 6, 2025.

• First deadline– April 7, 2025, second deadline– May 25, 2025, third deadline– August 23, 2025.

• SEC officially acknowledged the application on February 19. Final decision on approve or disapprove will be made on October 20, 2025.

6. Canary Capital

• Application filed on October 8, 2024, via Form S-1 to launch a spot $XRPETF. It allows investors to have direct exposure to $XRP’s price without needing to buy, hold, or manage the cryptocurrency themselves. Form 19b-4 submitted on February 6, 2025.

• First deadline– April 11, 2025, second deadline– May 26, 2025; third deadline– August 24, 2025.

• SEC officially acknowledged the application on February 19. Final decision on approve or disapprove will be made on October 23, 2025.

7. WisdomTree

• Application filed on December 2, 2024, via Form S-1 to launch a spot $XRPETF that directly tracks the price of $XRP. Form 19b-4 submitted on February 6, 2025.

• First deadline– April 12, 2025; second deadline– May 27, 2025; third deadline– August 25, 2025.

• SEC officially acknowledged the application on February 19. Final decision on approve or disapprove will be made on October 25, 2025.

8. CoinShares

• Application filed on January 24, 2025, via Form S-1 to launch a spot $XRPETF. This aims to provide investors with regulated, direct exposure to $XRPthrough a traditional exchange-traded fund. Form 19b-4 submitted on February 10, 2025.

• First deadline– April 11, 2025; second deadline– May 26, 2025; third deadline– August 24, 2025.

• SEC officially acknowledged the application on February 19. Final decision on approve or disapprove will be made on October 23, 2025.

9. Franklin Templeton

• Prospectus filed on March 11, 2025, via Form S-1 to provide a regulated institutional investment vehicle that directly holds $XRPtokens. Form 19b-4 submitted on March 13, 2025.

• First deadline– May 3, 2025; second deadline– June 17, 2025; third deadline– September 15, 2025.

• The final deadline for approval or disapproval is expected on November 14, 2025.

10. Rex & Osprey

• Prospectus filed on January 21, 2025, via Form S-1 to launch a spot $XRPETF that holds $XRPtokens directly. Form 19b-4 submitted on March 13, 2025.

• The SEC was expected to make a decision on July 25, but it got delayed, allowing more time to review before granting approval.

11. Volatility Shares $XRPETF

• Application filed on May 21, 2025, via Form N-1A Post-Effective Amendment registration. It plans to launch both a 1x $XRPfutures ETF and a 2x leveraged $XRPfutures ETF.

• Volatility Shares has filed for three distinct $XRPETFs: a spot $XRPETF, a 2x leveraged $XRPETF, and an inverse -1x $XRPETF.

• The SEC’s decision timeline was scheduled for July 2025, but was later delayed.

Note: Cboe BZX Exchange filed 19b-4 forms on behalf of Bitwise, 21Shares, Wisdom Tree, Franklin Templeton, and Canary Capital to list and trade a spot exchange-traded product that tracks $XRP.

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