XRP ETF Race Heats Up, But Giants Sit Out

As many as twelve XRP-based ETF proposals are now officially lined up with the U.S. Securities and Exchange Commission, setting the stage for a shift in crypto investing

As many as twelve distinct proposals for exchange-traded funds (ETFs) tracking XRP are now officially lined up with the U.S. Securities and Exchange Commission, setting the stage for a shift in crypto investing should these products finally get clearance.

While established firms like Grayscale, VanEck, Franklin Templeton, and ProShares figure prominently in the proposals, what’s interesting is that the two leading asset managers globally—BlackRock and Vanguard—aren’t yet on the scene.

These twelve products, covering both spot and leveraged plays, highlight Wall Street’s desire to cater to both retail and institutional traders with diverse investment strategies on the altcoin.

The proposals span final SEC deadlines ranging from April 2024 to October 2025.

The surge in ETF filings follows a wave of optimism after XRP gained legal clarity following its legal battle with the SEC.

With Ripple’s native token no longer deemed a security in itself by the U.S. court, institutional players see an opportunity to bring XRP to traditional finance channels through compliant, exchange-traded vehicles.

The proposed products range from spot ETFs to leveraged plays, showcasing Wall Street’s initiative to present diverse offerings for traders.

However, despite rumors of imminent filings, no decisions have yet been made on the existing XRP filings, some of which are nearing their final deadlines.

"Soon #Vanguard and #BlackRock," a crypto analyst posted on X, alluding to the possibility of these giants making their own filings soon.

"Did I miss an SEC update?" a user asked, to which an ETF strategist replied, "It’s coming together at the right time and in a big way. We'll see plenty of action in the coming months." This suggests that multiple tranches of ETF approvals could be announced together, similar to the recent wave of spot Bitcoin ETF filings and approvals.

If approved, XRP ETFs could pave the way for altcoins to gain mainstream legitimacy, signifying that Wall Street is ready to invest in more than just Bitcoin and Ethereum.

But if denied, it may raise questions about whether altcoins are prepared for the U.S. market.

However, with Paul Atkins’ appointment as the new SEC chair, the crypto community is hopeful for a more balanced and open-minded approach from the regulator towards digital assets.

For XRP, the next 180 days could be crucial in determining whether it emerges as an ETF-backed asset or faces another setback, remaining in regulatory limbo. The decision now lies with the SEC.