XRP ETF Countdown: Bitwise Inches Closer to Approval as SEC Review Nears End

Asset management powerhouse Bitwise, which oversees more than $15 billion in digital and traditional assets, has filed a new amendment to its XRP ETF application—an update that market watchers believe could signal the finish line for regulatory approval.

The latest submission, Amendment No. 4, filed with the U.S. Securities and Exchange Commission (SEC), includes key final details often added just before an ETF is cleared for launch. Among them, Bitwise revealed that its proposed XRP fund will be listed on the New York Stock Exchange (NYSE) and carry a management fee of 0.34%. Industry observers point out that these additions usually mark the final step before the SEC’s green light.

Analysts Hint at a 20-Day Launch Window

Several ETF analysts interpret Bitwise’s filing as a strong sign that approval may arrive within weeks rather than months. Bloomberg Intelligence’s Eric Balchunas noted that specifying both the fee and exchange typically means “all the boxes have been checked.” His colleague James Seyffart went further, suggesting that the revised wording in Bitwise’s filing could enable trading to begin within 20 days, provided no last-minute regulatory hurdles arise.

Bitwise isn’t alone in the race. Competitors including VanEck, Fidelity, and Canary Funds have also recently refreshed their XRP ETF filings, each seeking to secure an early-mover advantage in what could become a landmark moment for the digital asset. Canary Funds, for instance, removed a key procedural delay from its own submission—an adjustment that may allow its product to go live as soon as mid-November if the Nasdaq grants final clearance.

Why XRP’s ETF Matters

An XRP ETF would be a turning point for both the token and the broader crypto market. Unlike derivatives-based products, a spot ETF holds the actual digital asset, allowing investors to gain exposure to XRP’s price movements without directly owning it. Such a product could open the doors for institutional investors—hedge funds, pension funds, and wealth managers—to access XRP through traditional brokerage accounts.

XRP’s inclusion in the ETF landscape would also mark the first time the SEC has permitted a spot fund for the cryptocurrency, following its earlier battles with Ripple over the classification of XRP as a security. That legal fight, partially resolved in 2023, cleared the path for regulatory reassessment and helped restore institutional interest in the token.

Market Reacts to Bitwise’s Filing

News of Bitwise’s filing sparked renewed optimism among traders, with XRP’s price edging up to around $2.51. The token has maintained a steady uptrend since early October, driven by speculation that an ETF could supercharge demand. Analysts caution, however, that the price remains capped near the $2.75 resistance zone—a level that has repeatedly rejected bullish attempts since the start of Q4.

If buyers manage to push past that threshold, XRP could retest the $3 psychological barrier, a move that would bring it close to its 2018 all-time high. Conversely, if momentum fades, analysts expect a short-term correction toward the $2 support range, which coincides with the lower boundary of its long-term ascending channel.

The Bigger Picture

The XRP ETF race underscores how rapidly traditional finance is embracing digital assets, following the explosive success of Bitcoin and Ethereum ETFs earlier in the year. A U.S.-listed XRP ETF could strengthen the token’s legitimacy among mainstream investors and deepen liquidity in global markets.

With several filings now in their final stages, the next few weeks could determine which issuer—Bitwise, Fidelity, or VanEck—will be the first to make XRP accessible on Wall Street. If Bitwise’s prediction holds, the approval could arrive before the end of November, ushering in a new era for XRP and potentially igniting the next wave of institutional adoption in crypto.