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Grayscale, Canary Capital, and Franklin Templeton have all made changes to expedite the approval process for the XRP ETF.

 

Eric Balchunas, Senior ETF Analyst at Bloomberg, confirmed the XRP ETF update, which caused a new surge of enthusiasm. He pointed out that the company had “dropped an 8(a),” formally initiating the 20-day window for possible approval. Amendment No. 3 to Form S-1, submitted in accordance with Securities Act of 1933 Section 8(a), initiates a 20-day countdown for automatic approval unless the Securities and Exchange Commission (SEC) steps in.

The action came after similar updates from Grayscale and Franklin Templeton, both of which expedited approval by streamlining their filings. If accepted, XRP would enter the Spot ETF market alongside Bitcoin [BTC] and Ethereum [ETH], possibly increasing institutional confidence and liquidity.

The Teucrium 2x Long Daily XRP ETF, Volatility Shares XRP ETF, Rex-Osprey, ProShares Ultra, and Purpose XRP ETF were among the funds that demonstrated healthy inflows and active trading. The Rex-Osprey XRP ETF, which debuted in September, has already outperformed the others.

The Teucrium 2x Long Daily XRP ETF, Volatility Shares XRP ETF, Rex-Osprey, ProShares Ultra, and Purpose XRP ETF were among the funds that demonstrated robust inflows and active trading. Among them, Teucrium’s leveraged XRP product has surged to over $384 million in net assets since April, outperforming the company’s other cryptocurrency funds. Additionally, the Rex-Osprey XRP ETF, introduced in September, has already surpassed $114.6 million in assets under management.