XRP ETF Momentum Builds as Grayscale Updates SEC Filing – Is Approval Imminent?
The push for an XRP Spot Exchange-Traded Fund (ETF) continues to gain traction, with Grayscale taking a decisive step forward by submitting an updated amendment to the U.S. Securities and Exchange Commission (SEC). This move signals the asset manager’s intensified efforts to bring an XRP ETF to market, following in the footsteps of other recent spot ETF filings that have reshaped the crypto investment landscape.
As anticipation builds, Grayscale’s revised filing underscores its commitment to establishing a regulated investment vehicle that grants institutional and retail investors direct exposure to XRP. The updated proposal outlines the structure of the trust, which is designed to mirror the performance of XRP by issuing shares that reflect the asset’s real-time market value. The trust is registered under Delaware law and aims to be listed on NYSE Arca under the ticker symbol “GXRP,” pending regulatory approval.
One of the key updates in the new filing allows the trust to accept cash-based transactions through Authorized Participants. This mechanism enables the creation and redemption of share “Baskets” via fiat currency, with third-party Liquidity Providers handling the conversion between cash and XRP. These providers act independently and are not affiliated with the Authorized Participants, ensuring compliance and transparency in the ETF’s operational workflow.
Grayscale’s move comes amid growing optimism that the SEC may soon greenlight an XRP Spot ETF. The agency’s previous cautious stance on crypto-related financial products has softened in recent months, as evidenced by the approval of other spot ETFs, including those tied to Bitcoin and, more recently, Solana. Industry insiders believe that XRP could be next in line, especially given the increasing institutional interest in the altcoin.
Crypto strategist John Squire commented on the development, noting that Grayscale’s updated filing reflects growing confidence in the inevitability of mainstream adoption. “The walls are closing in,” he said, suggesting that regulatory resistance is gradually giving way to market demand. Squire’s statement echoes the sentiment of many investors who view XRP as a prime candidate for ETF integration due to its liquidity, use cases, and established track record in cross-border payments.
Ripple advocates, including prominent voices within the XRP community, are also fueling speculation of an imminent launch. One such advocate, known as Ripple Bull Winkle, has boldly predicted a full-scale rollout of the XRP Spot ETF by November 13. According to him, institutional capital is poised to flood into XRP, marking a pivotal moment for the token and potentially triggering a significant price rally.
Analysts have long argued that an ETF approval could act as a catalyst for XRP’s price, with some projecting gains of up to 300% in the months following a green light. These predictions are based on historical ETF launches, which have often been followed by sharp upticks in underlying asset valuations due to increased accessibility and legitimacy in the eyes of institutional investors.
The broader crypto market is closely watching the SEC’s next move, as the agency is expected to issue a decision on Grayscale’s proposal before the end of the month. A favorable ruling would not only validate XRP’s standing as a legitimate investment asset but could also pave the way for similar products linked to other altcoins.
Meanwhile, other financial giants like Franklin Templeton are also entering the race, accelerating their own filings for XRP-based ETFs. This growing competition among asset managers highlights the strategic significance of being first to market, as early entrants typically capture the lion’s share of investor interest.
The potential impact of an XRP ETF goes beyond short-term price action. A successful launch could usher in a new era of regulatory clarity and institutional participation for altcoins, helping bridge the gap between traditional finance and decentralized assets. It would also solidify XRP’s role as a key player in the evolving crypto infrastructure, particularly in the realm of cross-border payments and liquidity provisioning.
In addition, the integration of cash orders through third-party liquidity providers offers a more streamlined and compliant method of acquiring XRP for ETF purposes. This approach reduces the friction associated with direct crypto transactions and aligns with traditional financial practices, further enhancing the product’s appeal to conservative investors.
With the SEC facing mounting pressure to modernize its approach to crypto regulations, the approval of an XRP ETF could mark a turning point. Such a decision would signal a broader acceptance of digital assets within mainstream financial systems and encourage other regulatory bodies around the world to follow suit.
As the crypto industry awaits the SEC’s verdict, the momentum behind XRP continues to grow. Whether approval comes this month or later, the groundwork being laid by companies like Grayscale indicates that the launch of an XRP Spot ETF is no longer a distant possibility—it’s an approaching reality that could reshape the digital asset landscape.