- Nate Geraci predicts first U.S. spot XRP ETF approval within days after SEC delays.
- Canary Capital and Bitwise update filings as final steps before XRP ETF market debut.
- Ripple lawsuit resolution enables XRP ETFs, signaling end of prior anti-crypto stance.
ETF specialist Nate Geraci expects the first U.S. spot XRP exchange-traded fund (ETF) to debut within days, describing the event as a defining moment for the digital-asset market following years of regulatory opposition.
In a post on X dated November 3, Geraci, co-founder of the ETF Institute, said the launch of a spot XRP ETF could occur in less than two weeks. He noted that the approval would symbolize the end of an era marked by what he termed “anti-crypto enforcement actions” under the leadership of the former Securities and Exchange Commission (SEC).
The SEC had previously missed several decision deadlines due to the recent government shutdown, delaying approval for multiple XRP ETF applications. Grayscale’s proposal was the first scheduled for review on October 17, followed by filings from 21Shares, Bitwise, Canary Capital, CoinShares, and WisdomTree.
Issuer Updates Indicate Progress
Canary Capital has revised its ETF documentation, updating language to prepare for a possible launch by November 13. The firm recently received automatic approval for its Litecoin and Hedera (HBAR) ETFs through 8-A and CERT filings, setting a precedent for the XRP product.
Bloomberg ETF analyst Eric Balchunas noted that Bitwise also amended its XRP ETF prospectus, specifying a 0.34% management fee and listing plans for NYSE Arca. These adjustments suggest issuers are completing final steps ahead of market introduction once regulatory clearance is confirmed.
Ripple Case Resolution Paved the Way
The upcoming ETF launch follows the conclusion of the SEC’s lawsuit against Ripple Labs earlier this year. The case, which lasted more than five years, had constrained XRP’s institutional adoption and secondary-market access. The dismissal of the case under the current administration, led by SEC Chair Paul Atkins, cleared the path for fund issuers to proceed.
Geraci stated that the “launch of spot XRP ETFs represents the final nail in the coffin of previous anti-crypto regulators,” emphasizing how far the sector has progressed since the lawsuit’s onset. XRP prices have seen profit-taking in recent sessions as traders position for the anticipated approval, which analysts view as a landmark in the integration of digital assets within regulated financial markets.