As of now, the U.S. Securities and Exchange Commission (SEC) has not approved the launch of an exchange-traded fund (ETF) specifically for XRP, despite increasing institutional interest and companies like Bitwise submitting formal applications in 2024. There are still regulatory and legal challenges hindering approval, especially with the ongoing debate regarding the legal status of XRP and whether it is considered a security. The market is awaiting the final decision from the commission, as the approval of an ETF for XRP is expected to enhance liquidity and investment appeal, but regulatory uncertainty and competition with other digital currency products still pose barriers to the launch.