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There are currently several official requests for exchange-traded funds (ETFs) based on XRP currency under review by the U.S. Securities and Exchange Commission (SEC).
☄️Key submitted applications:
📍Bitwise: Submitted a formal application in October 2024 to launch a Spot ETF for XRP, aiming to track the price of XRP directly, while keeping the assets in Coinbase Custody.
📍21Shares: Submitted an application in November 2024 to list a Spot ETF for XRP on the Cboe BZX exchange, making it the third company to submit such an application after Canary Capital and Bitwise.
📍WisdomTree: Submitted an application in December 2024 for a Spot ETF for XRP, appointing Bank of New York Mellon as the fund manager.
📍Current Situation:
In February 2025, the U.S. Securities and Exchange Commission (SEC) acknowledged a joint application from the New York Stock Exchange and Grayscale to launch a Spot ETF for XRP, granting the commission 240 days to make a decision on the application, until October 2025.
☄️Legal Challenges:
Approval for these funds remains uncertain due to the ongoing legal dispute between the SEC and Ripple regarding the classification of XRP as a security.
⭐Forecast:
Some analysts expect the chances of approval for a Spot ETF for XRP to be around 65%, with a decision possible by October 2025.