Well, well, well, folks! The race to launch the first-ever spot XRP exchange-traded fund (ETF) is now hitting the home stretch! All this is happening while the crypto market is in full-on freefall. 🚀 On October 10, the U.S. Securities and Exchange Commission (SEC) received a batch of S-1/A amendment filings from the heavy hitters like 21Shares, Bitwise, Franklin Templeton, WisdomTree, Grayscale, and Canary Capital. The drama? It’s just getting started!
21Shares Strikes Again: CME-Linked XRP ETF Ready for Action
The latest plot twist comes from 21Shares, who filed a new ETF designed to track XRP’s price using the CME CF XRP-Dollar Reference Rate (XRPUSD_NY)-a fancy-sounding benchmark that’s all the rage among institutional investors. You know, the ones who wear suits, drink overpriced coffee, and pretend to understand the market. 😏
This ETF will be organized as a Delaware trust (because who doesn’t love a good trust?), and it’ll hold XRP in cold storage with Coinbase Custody Trust Company. Investors can get in on the action through regular brokerage accounts on the Cboe BZX Exchange. Nice, right? No need to hide your crypto under the mattress anymore.
21Shares XRP ETF Files S-1/A with SEC: Aims to Track XRP Price via CME Benchmark, Lists on Cboe BZX
#XRP #ETF– 𝗕𝗮𝗻𝗸XRP (@BankXRP) October 11, 2025
Just to keep things spicy, the ETF will be passive-no crazy leverage or derivatives. No rollercoaster rides here, folks. It’s as straightforward as that one guy in the office who still uses a flip phone. 📱 The shares will be created or redeemed based on the CME benchmark, and as a bonus, it’s high risk with absolutely no FDIC insurance or Investment Company Act protections. Because why not, right? 🙄
The SEC Gets a Move On: Faster ETF Listings-Really?
The SEC, finally realizing that it’s 2025 and not 1925, has introduced new rules that might just speed up ETF approvals. For the first time ever, Nasdaq, Cboe, and the NYSE can list spot crypto ETFs without needing a full-on approval for every single case. 👏 The dream of quick ETF launches is alive and well, although, let’s be honest, we all know “quick” in government time is still a bit like a sloth on vacation.
Previously, ETF applications took longer than the lifespan of your average fruit fly-over 240 days. But thanks to these new rules, the timeline might be slashed down to just 60-75 days. That’s faster than a speeding bullet, if you’re comparing it to the old system, of course.
Crypto analyst Diana has noted that 21Shares and Canary have updated their filings to meet these shiny new standards. What’s new? Oh, just the usual boring stuff like:
- Clearer custody and redemption procedures (because people like to know where their stuff is, apparently)
- Stronger surveillance-sharing agreements (don’t worry, they’re watching you!)
- Full alignment with SEC feedback (aka, they’re doing exactly what they’re told)
“These updates are like cleaning up your room right before your mom gets home,” Diana quipped on X. 🧹
The Countdown Begins: Launch Likely in Early 2026
If the SEC keeps its cool (and doesn’t get distracted by yet another government shutdown), the first XRP ETFs could be launching as soon as early 2026. Hold on to your wallets, folks! 💸
Here’s the checklist to get things rolling:
- First, we need acknowledgment letters confirming receipt of those filings (who doesn’t love paperwork?)
- Then, exchange listing notices will come under the new rules (because we all love red tape, right?)
- Don’t forget about the magical S-1 status-it’s like the golden ticket!
- And finally, any conditional approvals that might pop up (because the SEC loves to keep us guessing).
But let’s not get too excited, okay? The SEC could still drag its feet. There’s always that pesky political drama and, oh, did we mention the government shutdown? But who cares, right? It’s all part of the fun ride! 🎢
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2025-10-13 07:40