Key Highlights
- Seven companies have submitted updated XRP ETF applications to the SEC
- The SEC has set a deadline in mid-October for decisions on XRP and other altcoin ETFs
- Analysts believe the XRP ETF could become the first approved altcoin ETF
XRP ETF Filings Indicate Advancements as SEC Opens Doors
Seven prominent ETF providers have put forth amended applications for spot XRP exchange-traded funds (ETFs), indicating that the U.S. Securities and Exchange Commission (SEC) is currently examining these proposals.
Bloomberg Intelligence analyst James Seyffarth noted that these revisions highlight ongoing communication between the SEC and applicants, suggesting progress in the approval timeline.
“These amendments indicate that discussions with the SEC are active, which is typically a favorable sign,” Seyffarth stated.
Companies Involved
The updated applications, filed on August 22, 2025, originate from:
- Grayscale
- Bitwise
- Canary
- CoinShares
- Franklin Templeton
- 21Shares
- WisdomTree
These companies aim to secure an early foothold in the expanding crypto ETF sector, focusing specifically on XRP.
Contents of the Filings
A notable update from Bitwise indicates that the SEC has sought clarification on the processes for issuing and redeeming trust shares in its S-1 filing.
The revised filing introduces a cash redemption option, in addition to the in-kind redemption—a matter that sparked debate during the launch of spot Bitcoin ETFs.
Upcoming Developments
The SEC has announced a mid-October 2025 deadline for decisions on most spot XRP ETF applications and related altcoin products. This aligns with Seyffarth’s earlier remarks that approvals are unlikely before the fourth quarter.
Experts universally regard this series of amendments as a progressive step. Kaiko Research analysts suggest that the XRP ETF may lead the way for approval ahead of other altcoin offerings.
Nate Geraci, CEO of The ETF Store, forecasts that the SEC will greenlight spot altcoin ETFs “within a couple of months.” He also anticipates that staking will soon be authorized in existing Ethereum ETFs, broadening the crypto ETF landscape.
If approved, the XRP ETF would mark a significant step toward mainstream acceptance of crypto, particularly for altcoins beyond Bitcoin and Ethereum.
