The countdown to a potential spot XRP ETF appears to be entering its final phase, with a key deadline now set for mid-November 2025. This development is part of a significant wave of institutional interest that could fundamentally reshape access to the digital asset for traditional investors.
A Key Date for the XRP ETF
Asset manager **Canary Capital has taken a decisive step by filing an updated S-1 registration for its spot XRP ETF and, crucially, removing the “delay amendment” that gave the SEC discretionary control over the launch timeline.
This move invokes a provision in securities law, specifically Section 8(a), which allows the registration to become effective automatically after a 20-day review period, unless the SEC intervenes. This sets a concrete effective date of November 13, 2025, for the ETF, pending no objections from the regulator. This strategy has recently been successfully used to launch other crypto ETFs, such as those for Solana and Litecoin, during a period of slowed SEC activity.
Broad Institutional Momentum Builds
The push for an XRP ETF is not isolated. Grayscale Investments has also filed a new amendment for its Grayscale XRP Trust, detailing its structure and plans to list on the NYSE Arca under the ticker “GXRP”, with Coinbase Custody serving as the custodian. This signals that multiple major asset managers are preparing their products concurrently.
This activity has led top analysts to dramatically increase their approval odds. Bloomberg Intelligence analysts Eric Balchunas and James Seyffart have stated that the probability of a spot XRP ETF approval in 2025 is now “100%”, citing recent regulatory changes that have streamlined the process. Their confidence underscores a major shift in the regulatory landscape for digital assets.
Navigating the Current Market Landscape
While the ETF news generates optimism, the current market presents a mixed picture. XRP’s price has faced recent downward pressure, correlating with a broader market retreat. At the same time, early indicators of institutional product demand are emerging. The REX-Osprey XRP ETF, which launched via a different regulatory pathway, has already accumulated approximately $120 million in assets, demonstrating tangible investor interest for regulated XRP exposure despite market volatility.
The anticipated approval of a spot XRP ETF represents a pivotal moment for institutional adoption. If launched, it would provide a familiar and regulated vehicle for a wider range of investors to gain exposure to XRP, potentially mirroring the transformative impact that spot ETFs had for Bitcoin and Ethereum.
