Key Developments in XRP ETF Application
21Shares and Canary Capital have filed with the SEC to launch a spot XRP ETF, initiating a 20-day review window that began in November 2025. The SEC’s decision could impact XRP’s market, with potential institutional inflows and price movements anticipated during the review period.
21Shares and Canary Capital have moved forward with an XRP ETF filing as the SEC review window opens. The action initiates a 20-day countdown, in which non-intervention implies automatic approval by November 27, 2025. The designated custodians—Gemini Trust Company and BitGo Trust Company—are set to manage XRP assets. Important players like Eric Balchunas and Scott Melker have shared insights about the potential for an automatic approval by the end of November.
Market Reactions and Projected Impact
The announcement led to a nearly 5% rise in XRP's price within hours, indicating a strong speculative move by traders. Market activities reflect heightened confidence among participants as institutional interest is inferred from the ETF filing. Institutional investors expect potentially massive influx if the ETF launches, with some predicting a billion-dollar impact. The application uses CoinDesk's XRP CCIX 60m New York Rate index to determine the ETF's reference price.
In a statement, Eric Balchunas noted, "21Shares has just filed a Form 8(a) for its spot XRP ETF. A 20-day countdown is now triggered."
Regulatory Precedents and Community Sentiment
Historical parallels with successful spot Bitcoin ETF approvals are observed. Market responses to previous XRP legal victories might offer future pricing trends insights. The XRP community displays optimism in social forums. Potential financial outcomes may include larger institutional participation and increased trading volumes. Reviewing regulatory precedents suggests possible inflows from traditional finance sectors, bolstered by Canary Capital's prior success with altcoin ETFs.