Key Takeaways
Who confirmed the development?
Bloomberg ETF analyst Eric Balchunas confirmed that 21Shares had “dropped an 8(a),” officially starting the approval clock.
Which other companies have updated their XRP ETF registration?
Franklin Templeton, Grayscale and Canary Capital have all made changes to speed up the approval process.
Ripple [XRP] is back in the spotlight after 21Shares filed a crucial change for its highly anticipated Spot XRP exchange-traded fund (ETF).
21Shares’ new move on XRP ETF
The update, confirmed by Bloomberg’s Senior ETF Analyst Eric Balchunas, created a new wave of excitement. He noted that the company had “dropped an 8(a),” officially setting the 20-day clock in motion for possible approval.
After the news, the price of XRP rose over 6% to $2.32, reflecting renewed investor optimism and signaling what could be a major milestone for mainstream adoption of Ripple.
Amendment No. 3 to Form S-1, filed under Section 8(a) of the Securities Act of 1933, initiates a twenty-day countdown for automatic approval unless the U.S. Securities and Exchange Commission (SEC) intervenes.
Other institutions are ramping up their XRP ETF
The move followed similar updates from Franklin Templeton and Grayscale, both of which streamlined their submissions to speed approval.
If approved, XRP would join Bitcoin [BTC] and ether [ETH] into the Spot ETF arena and can potentially increase liquidity and institutional confidence.
XRP-linked ETF activity has already gained popularity abroad.
Facts showed that several funds, including the Teucrium 2x Long Daily XRP ETF, Volatility Shares XRP ETF, Rex-Osprey, ProShares Ultra and Purpose XRP ETF, were trading actively and seeing healthy inflows.
Among them, the Rex-Osprey XRP ETF, which launched in September, has already surpassed $114.6 million in assets under management, while Teucrium’s leveraged
What’s more?
Well, the momentum doesn’t stop there.
This is because even Bloomberg’s James Seyffart recently reported that institutional sign-ups could allow XRP ETFs to start trading within weeks. He added that this could even happen during a U.S. government shutdown.
The development reflects how Solana [SOL] ETFs managed to go live earlier this year despite similar hurdles.
Finally, as expected, ETF Prime’s Nate Geraci also put it best when he noted that this is the “final nail in the coffin of anti-crypto regulators,” marking broader institutional adoption of Ripple.