The entry of Bitcoin and Ether exchange-traded funds (ETFs) into US markets has already transformed institutional exposure to crypto, drawing billions of dollars from investors seeking regulated access.
Now attention is turning toward XRP, a digital asset that has long been dismissed as an outsider but is increasingly viewed by some asset managers as a potential surprise contender.
Despite its history of legal battles with the US Securities and Exchange Commission and a brand presence that does not match Bitcoin or Ether, XRP is attracting fresh interest. Nate Geraci, president of The ETF Store, believes current skepticism may be misplaced.
He noted that “people are severely underestimating investor demand for spot xrp & sol ETFs,” adding that the same doubts existed when Bitcoin and Ether ETFs were first proposed.
You heard it here first…
People are severely underestimating investor demand for spot xrp & sol ETFs.
Just like they did w/ spot btc & eth ETFs.
— Nate Geraci (@NateGeraci) September 1, 2025
The Growing Wave of XRP ETF Filings
There are many XRP ETF applications before the SEC. Currently, seven filings are under SEC review, just behind Solana with eight. In total, there are 92 active crypto-related proposals.
The applicant pool includes established firms such as WisdomTree, Grayscale, Franklin, and Canary Capital, alongside newer players experimenting with more complex structures.
Some of these proposals go beyond simple price tracking. Amplify, for instance, has put forward a design that combines XRP exposure with covered call strategies, aiming to generate yield.
Others, like 21Shares and Bitwise, have repeatedly updated their filings, signaling confidence in eventual approval. This level of innovation and persistence has helped elevate XRP into the broader ETF debate.
A Crucial October for XRP
The SEC is preparing to decide on several key spot XRP ETF applications in October 2025. Between October 18 and October 25, rulings are scheduled for six major filings, including those from Grayscale, 21Shares, Bitwise, Canary, WisdomTree, and CoinShares.
In parallel, Ripple’s application for a national bank charter with the Office of the Comptroller of the Currency is expected to be decided in the same timeframe. If approved, Ripple would gain the ability to operate as a federally supervised financial institution, expanding into regulated payments, custody, and services.
Analysts argue that the combination of ETF approval and a bank charter would institutionalize XRP’s role both as an investable asset and a functional part of the financial system.
Why Investors See XRP Differently
XRP’s growing case as Wall Street’s “dark horse” rests on emerging signs of demand. CME XRP futures have already reached more than $1 billion in open interest, marking the fastest growth among crypto derivatives contracts. Canary Capital has forecast as much as $5 billion in initial demand for an ETF, while JPMorgan analysts suggest annual inflows could approach $8 billion.
Evidence of investor readiness is already visible. Nearly $380 million has flowed into XRP‑related exchange‑traded products, demonstrating that capital is positioned to move quickly should spot ETFs receive approval. At the same time, institutional wallets have accumulated close to $928 million worth of XRP, reinforcing the impression that large investors are preparing for significant regulatory shifts.
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Persistent Risks and Divided Opinions
Not all market participants share the optimism. BlackRock has explicitly stated it will not pursue a US spot XRP ETF due to limited client demand and continuing regulatory uncertainty. Some strategists warn that an XRP ETF could fail to sustain inflows or produce consistent returns, with one even describing the launch as potentially marking “the beginning of the end.”
October’s outcomes—both on ETF filings and Ripple’s bank charter bid—will likely define XRP’s trajectory for years to come. A favorable ruling on both fronts could accelerate institutional adoption and position XRP as one of the few digital assets with both market legitimacy and operational integration.
Partial approval would still offer momentum, though without the same transformative effect. A full rejection, however, would risk sidelining XRP in the US market until regulatory clarity improves.
For now, the token’s role as Wall Street’s unexpected contender remains intact. Whether it delivers on that potential depends on the decisions regulators make in the coming weeks.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.