- The SEC will decide on six XRP ETF applications between October 18 and October 25, potentially shaping XRP’s future in U.S. markets.
- New crypto ETF listing standards could speed up the approval of XRP-related financial products, marking a shift in SEC regulation.
- CME’s upcoming launch of XRP options and futures signals a growing institutional interest in regulated XRP investment vehicles.
The U.S. Securities and Exchange Commission (SEC) is preparing for a critical period as it nears decisions on six prominent applications for spot XRP exchange-traded funds (ETFs). These rulings, expected between October 18 and October 25, could have major implications for XRP, positioning it as the third cryptocurrency to gain access to U.S.-listed spot ETFs, following Bitcoin and Ethereum.
The SEC’s decision process includes applications from several high-profile entities. Grayscale’s XRP ETF will be reviewed first on October 18, followed by the 21Shares Core XRP Trust ETF on October 19. Bitwise’s application is set for consideration on October 22. The agency will then evaluate proposals from Canary Capital and CoinShares on October 23. WisdomTree will complete the week with its XRP ETF filing on October 24.
Impact of New Listing Standards
These applications arrive at a time when the SEC has introduced new listing standards for crypto ETFs, aiming to streamline the approval process. This regulatory shift could accelerate the approval of crypto ETFs, marking a significant change in the SEC’s approach. The first U.S.-listed XRP ETF, the REX-Osprey XRP ETF, launched in late September and quickly expanded with options trading. This indicates growing interest in XRP-related investment products within regulated markets.
Alongside the ETF applications, momentum for XRP derivatives has been rising. Data from CME Group reveals that XRP futures open interest recently surpassed $1 billion, marking the fastest growth rate among all crypto derivatives contracts. On October 13, CME will launch options on XRP and Micro XRP futures, further expanding institutional access to these products. These developments highlight an increasing demand for regulated XRP investment vehicles.
Ripple’s Bank Charter Application
In addition to the ETF decisions, Ripple’s application for a national bank charter remains under review by the Office of the Comptroller of the Currency (OCC). A ruling on this matter is also expected in October. If granted, this charter could bring further regulatory clarity and legitimacy to Ripple’s operations, adding another layer of importance to the developments surrounding XRP in the coming weeks.
