XRP News Update: Regulatory Certainty Paves the Way for XRP ETFs as Approval Approaches

The U.S. market for cryptocurrency investments is on the verge of significant growth as several exchange-traded funds (ETFs) centered on XRP approach regulatory approval, with trading possibly beginning in the coming days. Canary Capital's

ETF, which is set up as a grantor trust that holds actual XRP tokens, submitted Form 8-A to the SEC on November 11. This move suggests the fund could launch as soon as November 13, provided it receives Nasdaq's certification, according to a . This step follows similar applications from Franklin Templeton and 21Shares, indicating that institutional faith in XRP's regulatory prospects is rising after Ripple's partial legal win in 2023, as explained in another .

Canary's XRPC ETF will store XRP with Gemini Trust and BitGo, while U.S. Bank will oversee the fund's cash. The ETF's net asset value will be based on the CoinDesk XRP CCIX New York Rate, which averages prices from leading exchanges, as mentioned in the

. Bloomberg analyst Eric Balchunas commented that the filing "completes the final requirement" for launch, and trading could begin "the day after" Nasdaq gives its approval, following a similar timeline to Canary's previous HBAR ETF, as reported by .

Franklin Templeton's XRPZ ETF, which recently updated its S-1 with "shortened 8(a) language," appears ready for approval in the next few weeks. This fund will keep XRP in cold storage with Coinbase Trust, use the CME CF XRP-USD benchmark, and charge a 0.19% fee (waived for the first $5 billion in assets until 2026), according to the

. Bloomberg's James Seyffart called the filing a "final procedural step" before a possible launch this month, as stated in the . Meanwhile, 21Shares' XRP ETF could start trading as soon as November 27 if the SEC does not object during its 20-business-day review, as noted in a .

The regulatory landscape has changed dramatically since Ripple's 2023 court success, which established that XRP sold on exchanges is not considered a security. This has opened the door for companies to pursue spot XRP ETFs, unlike

and , which previously underwent lengthy SEC reviews, as highlighted in the . Franklin Templeton's involvement in XRP ETFs is part of its broader digital asset strategy, which also includes Bitcoin, Ethereum, and tokenized assets. The firm, which manages $1.5 trillion, has also submitted ETF applications for and , with a decision on Solana expected in November, according to the .

Investors are watching closely to see if several XRP ETFs will launch at the same time. Crypto analyst Jake Clever suggested that a synchronized debut could push XRP's price to between $100 and $1,000, which would mean a market cap of $6 trillion to $60 trillion, given the 60 billion XRP in circulation, as discussed in a

. However, this outcome depends on regulatory coordination, since ETFs must meet separate requirements for custody, compliance, and exchange approval.

The competition among XRP ETFs is also evident in their fee structures. Bitwise and Grayscale have set expense ratios of 0.34% and 0.35% for their XRP ETFs, respectively, using a "direct listing" method similar to their Solana ETFs, which saw $56 million in trading volume on the first day, according to a

. This method skips the traditional SEC review by using the agency's recent rule that allows S-1 filings to automatically become effective after 20 days unless the SEC intervenes, as explained in the .

As several XRP ETFs move through the regulatory process, the product could become the first U.S. ETF to provide direct exposure to XRP's price through on-chain assets. If approved, these funds would broaden institutional access to XRP's cross-border payment features and further establish its role in mainstream finance alongside Bitcoin and Ethereum, as noted in the

.