• Seven XRP ETF filings under SEC review; approval expected by late 2025 after XRP futures meet key regulatory milestones.

• Ripple-SEC case closed, clearing path for U.S. spot XRP ETF as Solana, Litecoin, and Hedera ETFs debut on Wall Street.

  

The first-ever spot ETFs for Solana (SOL), Litecoin (LTC), and Hedera (HBAR) began trading on Wall Street yesterday, marking a big moment for altcoins. But as these products go live, many investors are asking one question: when will XRP ETFs arrive?

Ripple’s latest State of the XRP Ledger – Q3 2025 report may have provided the first concrete timeline.

Seven U.S. Spot XRP ETF Applications Pending

According to the report, seven U.S. spot XRP ETF filings are currently under review by the Securities and Exchange Commission (SEC). The agency is expected to make decisions between October 18 and November 14, following its September approval of new generic listing standards for spot crypto ETFs.

Market data platform Polymarket now shows a greater than 99% probability that the SEC will approve a spot XRP ETF by the end of 2025. That level of confidence suggests strong institutional expectation that XRP will soon follow Bitcoin, Ethereum, and Solana in joining the U.S. ETF market.

Futures Listing Clears an Important Regulatory Path

Ripple’s report points out that XRP has now met a key regulatory condition for ETF approval. The SEC’s updated listing framework requires a minimum of six months of regulated futures trading before any spot crypto ETF can be listed.

XRP futures began trading on Coinbase Derivatives Exchange on April 21, 2025, and later on the CME Group on May 18, 2025. Based on this timeline, XRP completes its six-month futures requirement by late November, allowing for potential SEC approval and a U.S. spot XRP ETF launch by the end of 2025.

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Global Launches Strengthen XRP’s Case

While the U.S. review continues, international markets have already moved ahead. Three spot XRP ETFs launched in Canada in June 2025, while Hashdex introduced the world’s first XRP spot ETF in Brazil in April. 

These developments add pressure on U.S. regulators to follow suit, especially now that ETFs for Solana, Litecoin, and Hedera are trading actively on Wall Street.

Ripple-SEC Case Officially Closed

The legal uncertainty around XRP has also been resolved. On August 7, Ripple and the SEC jointly dropped their appeals in the Second Circuit Court. This confirmed Judge Analisa Torres’ July 2023 ruling as the final judgment in the case.

That ruling stated that Ripple’s programmatic sales of XRP on retail exchanges did not violate securities laws, though institutional sales did. Ripple agreed to pay a $125 million civil fine to close the matter.

With the case now legally settled, Ripple says the company is “well-positioned to support regulated financial products built on XRP,” hinting that ETF approval may only be a matter of time.

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FAQs

A spot XRP ETF would hold actual XRP tokens, allowing you to invest in its price through a stock brokerage without the complexity of managing crypto wallets yourself.

Key influences are the SEC’s new generic listing standards for crypto ETFs and the legal closure of the Ripple case, which removed major regulatory uncertainty.

While unlikely, the SEC could unexpectedly delay or reject applications due to unforeseen regulatory concerns, even with the positive current outlook.

It provides easy, regulated access for retail investors in traditional brokerages and offers institutions a secure, familiar framework for gaining XRP exposure.

An XRP ETF is expected to boost overall market legitimacy and increase capital inflow, potentially benefiting other major digital assets by validating the asset class.