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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 $XRPETFs arrive?

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

Seven U.S. Spot $XRPETF Applications Pending

According to the report, seven U.S. spot $XRPETF 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 $XRPETF by the end of 2025. That level of confidence suggests strong institutional expectation that $XRPwill 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 $XRPhas 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.

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

Global Launches Strengthen $XRP’s Case

While the U.S. review continues, international markets have already moved ahead. Three spot $XRPETFs launched in Canada in June 2025, while Hashdex introduced the world’s first $XRPspot 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 $XRPhas 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 $XRPon 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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