Endless Waiting: XRP ETFs and the SEC’s Never-Ending Game of “Catch Me If You Can” 😅

The wheels of bureaucracy, moving ever slowly, have made a faint, almost imperceptible turn. Some of the XRP ETF applications, those precious little glimmers of hope for digital currency enthusiasts, have made their way to the U.S. Depository Trust and Clearing Corporation (DTCC). But don’t hold your breath, dear reader, because the Securities and Exchange Commission (SEC) has decided that time is a relative concept. Its decision-making process, as ever, is slower than a sloth on a Sunday stroll. Most recently, on September 10, 2025, the SEC announced that it will issue its final ruling on Franklin’s XRP ETF proposal… sometime before the next ice age. 🍃

List of XRP ETF Applications

ProShares Ultra XRP ETF

Application Filed: January 17, 2025
Approved and launched on July 18, 2025
Offers 2x leveraged exposure to XRP futures, because who doesn’t love a little extra volatility in their life? 📈

Grayscale XRP ETF

Application filed: September 5, 2024.
Form: 19b-4 submitted on January 30, 2025, to transform its XRP Trust into a full-fledged exchange-traded fund on the New York Stock Exchange. Talk about ambition!
The SEC’s decision is expected on October 18, 2025. Don’t get too excited. ⏳

21Shares XRP ETF

Application filed: November 21, 2024
Form: 19b-1 to register its Core XRP Trust shares for listing on the Cboe BZX Exchange. Yes, more forms. Always more forms.
SEC acknowledged it on February 19, 2025. Final decision on October 19, 2025. Patience, my friend, patience.

Bitwise

Application filed: December 2, 2024
Form: S-1 to launch a spot XRP ETF that would hold XRP directly. Because, why not just cut out the middleman?
Decision pending, with the SEC’s final ruling coming October 20, 2025. 🕰

Canary Capital

Application filed: October 8, 2024
Form: S-1 to launch a spot XRP ETF. For those who prefer not to buy and hold cryptocurrency themselves. Lazy? Maybe. Efficient? Absolutely. 💼
SEC’s final decision set for October 24, 2025. Fingers crossed! 🤞

WisdomTree

Application filed: December 2, 2024
Form: S-1 to launch a spot XRP ETF that tracks XRP’s price. Because why settle for the old-school ETFs when you can have a shiny new crypto one?
Final decision by October 24-25, 2025. Don’t bother checking your calendar. It’s already marked. 🗓

Franklin Templeton

Application filed: March 2025
Form: S-1 to create a regulated institutional vehicle that directly holds XRP tokens. You know, in case you were wondering how to put your money in a regulated cryptocurrency jar.
The SEC kindly gave Franklin an extension, now the new deadline is November 14, 2025. It’s like the SEC is saying, “Don’t rush us!” ⏳

CoinShares

Application filed: January 24, 2025
Form: S-1 for launching a spot XRP ETF. Basically, a way to dabble in XRP without getting your hands dirty. 💸
SEC’s decision to come by October 25, 2025. Keep your fingers crossed. 🤞

RexShares Rex-Osprey

Application filed: January 21, 2025
Form: S-1 to launch a spot XRP ETF holding XRP tokens directly. Yes, folks, this one’s for the bold investors who want to hold their precious XRP.
Decision delayed from September 12, 2025, so there’s still time to drink another cup of coffee while we wait for a verdict. ☕

Volatility Shares XRP ETF

Application filed: May 21, 2025
Form: N-1A Post-Effective Amendment registration. The goal? A 1x and 2x leveraged XRP futures ETF. What could go wrong with extra leverage, right? 😏
SEC decision delayed from July 2025. Clearly, they’re doing their best to make us all age gracefully. 🕰️

In a delightful bureaucratic twist, the SEC has issued a notice stating, “We need more time to ponder the weighty matters of crypto futures.” Just what we needed-more time for contemplation. 🧘

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2025-09-15 14:33