XRP ETF: Is the SEC Finally Amused? 🧐

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A Most Curious Development

  • The 21Shares filing has initiated a rather dramatic 20-day countdown – one can only hope the SEC isn’t excessively tardy.
  • The proposed XRP ETF, should it grace the Cboe BZX, would meticulously track the CME CF XRP Dollar Reference Rate. Positively dreary, but efficient.
  • 21Shares, ever the innovators, also seek to introduce a Hyperliquid (HYPE) ETF-a leveraged DeFi offering. One shudders to think of the possibilities…or the losses.
  • Franklin Templeton, Bitwise and Grayscale are all, rather urgently, updating their XRP and DOGE filings. A veritable stampede of ambition!

The filing in question – a Form 8(a), naturally – arrived on Friday, setting in motion a possible listing date around November 27th. Bloomberg’s Mr. Eric Balchunas assures us the fate of this endeavor rests entirely on the whim of the SEC. A most precarious position, wouldn’t you agree? The suspense is simply…agonizing.

The Mechanics of the Matter

At the heart of this scheme lies the 21Shares XRP Trust, a fund designed to mirror the price of XRP without the vulgarity of speculative trading or leverage. It will employ the CME CF XRP Dollar Reference Rate (New York Variant) to observe market prices and intends to list on the Cboe BZX Exchange. Quite refined, really.

21Shares just dropped an 8(a) for their spot XRP ETF.. 20 day clock in effect..

– Eric Balchunas (@EricBalchunas)

Unlike those actively managed crypto funds – perfectly dreadful, those are – this is a decidedly passive affair, focused solely on XRP’s inherent value. 21Shares US LLC shall graciously provide the initial investment, acquiring a modest 10,000 shares to procure XRP, held by custodians of impeccable reputation (one presumes). Once trading begins, these shares may be sold, or, indeed, redeemed – a delightful dance of liquidity!

Expanding the Empire

But 21Shares is not content with merely a single endeavor. Just days prior to the XRP filing, they also submitted an application for an ETF tracking Hyperliquid’s HYPE token. A fund linked to, of all things, a decentralized perpetual trading protocol. Should it be approved, it’ll be the first leveraged ETF built on DeFi. A distinctly modern madness, isn’t it? 😮

These filings suggest a strategy – aggressive, one might say – intended to capitalize on the SEC’s recent, and rather perplexing, softening of restrictions.

A Frenzy of Filings

The 21Shares filing sits amidst a veritable deluge of similar submissions. Franklin Templeton has listed its own XRP ETF, Grayscale has updated its filings, and Bitwise – rather cheekily – filed for a Dogecoin ETF. Such enthusiasm is almost… vulgar. 🙄

Mr. Balchunas suggests both the Bitwise DOGE fund and 21Shares’ XRP ETF could begin trading before month’s end, provided the SEC doesn’t decide to be disagreeable.

A Changed Landscape

This flurry of activity reflects a decided shift in the regulatory climate under the new Chair, Paul Atkins. The SEC introduced new, abbreviated listing standards in September, reducing review times considerably. A most accommodating development. 🎉

These reforms align with a certain…pro-crypto stance, determined to establish the U.S. as a hub for digital assets. Under the previous administration, a mere Bitcoin and Ethereum enjoyed spot ETF approval; now, issuers are testing the boundaries with XRP and even, heaven forbid, Solana.

The Market’s Reaction

The market, predictably, seems rather delighted. XRP ascended 4.2% over the last 24 hours, reaching $2.32 on Bitstamp, according to CoinGecko. Though, one notes, it remains approximately 7% lower for the week. Such is the capricious nature of markets, wouldn’t you agree?

Disclaimer: This is merely a diverting observation on current affairs and should not be taken as financial advice. One must always exercise prudence and consult a qualified professional before embarking on any investment.

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2025-11-08 15:29