Five XRP ETFs Near Launch as DTCC Listings Hint at Imminent Approval

Five-spot XRP Exchange Traded Funds have officially popped up on the Depository Trust and Clearing Corporation website...

Quick overview

  • Five new XRP Exchange Traded Funds have been listed on the DTCC website, indicating imminent approval for institutional adoption.
  • Franklin Templeton's update from the SEC suggests their XRP ETF can proceed once regulatory requirements are met.
  • The recent end of the government shutdown has allowed the SEC to resume processing ETF applications, including the new XRP funds.
  • Analysts believe the launch of these ETFs could significantly boost XRP's mainstream adoption and position it alongside Bitcoin and Ethereum.

Five-spot XRP Exchange Traded Funds have officially popped up on the Depository Trust and Clearing Corporation website – and that’s a clear sign that approval is just around the corner. These funds – courtesy of Franklin Templeton, Bitwise, Canary Capital, 21Shares, and CoinShares – have been expected to debut this month and mark a major milestone in the push for institutional XRP adoption.

According to DTCC data, the listings suggest that the trading and settlement arrangements are just about finalised. Bloomberg ETF analyst James Seyffart reckons that Franklin Templeton getting an update approved by the US Securities and Exchange Commission means their XRP ETF can go ahead automatically once all regulatory hoops are jumped through.

Bitwise has now submitted its final changes, while Canary Capital has dropped its delaying clause, paving the way for its XRP ETF to kick in once Nasdaq processes its final paperwork. Analysts reckon Canary’s offering could actually be on the market in a week or so.

Other issuers, including CoinShares and 21Shares, are expected to follow and complete what could be the biggest coordinated run of new XRP ETFs to date.

Key Fund Listings

  • Franklin XRP Trust (XRPZ)
  • 21Shares XRP ETF (TOXR)
  • Bitwise XRP ETF (XRP)
  • Canary XRP ETF (XRPC)
  • CoinShares XRP ETF (XRPL)

A Breakthrough in Washington

The momentum behind these launches coincides with a major political breakthrough on Capitol Hill. The US Senate’s 60–40 vote to end the government shutdown has brought key agencies back up and running—including the SEC—so ETF applications are now moving forward after weeks on hold.

When the shutdown occurred, the SEC paused all new approvals of financial products, including spot crypto ETFs. Now that things are back to normal, the five XRP ETFs are moving through the final stages of review.

It’s a good time for this to happen, considering the whole crypto industry has been seeing a surge of investor interest in regulated crypto investments – especially after a few Bitcoin and Ethereum ETFs got the green light a few months back.

XRP Adoption Picking Up Speed

The appetite for XRP-based investment products is growing, no question. Earlier, the likes of Teucrium 2x Long Daily (XXRP) and Rex-Osprey (XRPR) leveraged ETFs have attracted significant funds, and XRPR’s assets under management have now passed the $100 million mark.

If these five new XRP spot ETFs do go live as expected, analysts say it could be a watershed moment for XRP’s mainstream adoption – and really start to push the coin up there with Bitcoin and Ethereum as a serious investment option.

The five funds filing at the same time, followed by what looks like a tick in the “go ahead” column from the regulators, and all the activity around getting these lists on the market, all point to one thing: XRP’s long-awaited break into the global ETF market is finally close at hand.

ABOUT THE AUTHOR See More
Arslan Butt
Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

Related Articles

HFM

Doo Prime

XM

Best Forex Brokers