XRP ETFs Expected Within Two Weeks as Ripple Case Closure Clears Path

Nate Geraci expects the first spot XRP ETFs to debut by mid-November after Ripple’s case closure.

Canary Capital and Bitwise lead the XRP ETF filings, with several major issuers awaiting SEC approval.

The end of Ripple’s SEC lawsuit has paved the way for institutional adoption of XRP-based ETF products.

ETF analyst Nate Geraci expects the first spot XRP exchange-traded funds (ETFs) to debut within the next two weeks, marking what he described as a major shift in U.S. crypto regulation

Geraci, president of ETF Store and co-founder of the ETF Institute, stated on X that the upcoming XRP ETF launch represents “the final nail in the coffin of previous anti-crypto regulators.”

His remarks follow the resolution of the U.S. Securities and Exchange Commission’s (SEC) five-year litigation against Ripple Labs, finalized in August by the Second Circuit Court of Appeals.

Canary and Bitwise Lead the XRP ETF Race

Canary Capital appears positioned to roll out its spot XRP ETF by November 13 after amending its S-1 filing to remove the delay clause. The firm followed a similar filing process when launching its Litecoin and Hedera ETFs in October, both of which received automatic approval. According to Bloomberg analyst Eric Balchunas, Bitwise has also revised its S-1 filing, introducing a 0.34% management fee and confirming plans to list on NYSE Arca.

Several major firms, including Grayscale Investments, 21Shares, WisdomTree, CoinShares, and Franklin Templeton, are also awaiting approval for their respective XRP ETF products. Notably, both BlackRock and Fidelity have opted to stay out of the XRP race, despite Fidelity pursuing a similar Solana ETF.

SEC Delays and Shutdown Extend Approval Window

The ongoing U.S. government shutdown has affected several ETF review timelines, with the SEC missing approval deadlines in mid-October. The Grayscale XRP ETF was first in line for decision on October 17, followed by submissions from 21Shares, Bitwise, Canary Capital, CoinShares, and WisdomTree. Despite the delays, analysts suggest that the SEC’s inaction could allow some funds to move forward automatically if no further comments are issued.

Crypto journalist Eleanor Terrett indicated that Canary’s ETF launch now depends on Nasdaq’s review of its Form 8-A application and the absence of additional SEC intervention. This timeline aligns closely with Geraci’s two-week projection window.

Ripple Lawsuit Closure and ETF Momentum

The anticipated XRP ETF launches follow the conclusion of Ripple’s legal battle with the SEC, which began in 2020. The two parties filed a joint dismissal of appeals earlier this year, closing one of the most closely watched crypto cases in the U.S. The end of the lawsuit has opened the door for broader institutional engagement in XRP-based products.

Meanwhile, the existing REX-Osprey XRP fund, which launched in September, has already accumulated over $100 million in assets under management. Bitwise CIO Matt Hougan recently projected that combined XRP ETF assets could reach several billion dollars once multiple funds begin trading.

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