The SEC is currently reviewing spot crypto ETFs, following its approval of Bitcoin and Ethereum ETFs.

Now, big names like Franklin Templeton, Bitwise, 21Shares, Canary Capital, Grayscale, and WisdomTree are all competing to launch an XRP ETF.

The SEC is currently reviewing several applications for spot crypto ETFs from big names like Franklin Templeton, Bitwise, 21Shares, Canary Capital, Grayscale, and WisdomTree. Following its approval of Bitcoin and Ethereum ETFs earlier in the year, the SEC has begun reviewing these applications, potentially paving the way for a new era of accessible crypto investing for the masses.

The fate of these ETFs will determine whether the crypto market can integrate seamlessly with traditional finance or face further setbacks.

The SEC is reviewing several applications for spot crypto ETFs, following its approval of Bitcoin and Ethereum ETFs earlier in the year. Among the pending applications, several aim to track XRP, offering investors a familiar and convenient way to gain exposure to the cryptocurrency through their regular stock accounts.

The SEC has started reviewing these applications, beginning with Grayscale’s on February 14, kicking off a 240-day review period.

Other filings, notably from WisdomTree, Canary Capital, and CoinShares, are also under review and open for public comments.

However, the SEC has since delayed its decision on Grayscale’s XRP ETF application, along with several other crypto spot ETFs, such as those for Solana, Litecoin, and Dogecoin.

Investors will have to wait until May 2025 for updates on whether these ETFs will be approved, rejected, or further delayed.

Multiple XRP ETFs Coming In May?

The new deadline for XRP ETFs is May 22, 2025, affecting filings from Canary, Bitwise, and Grayscale.

As May 22 approaches, market watchers speculate that multiple XRP ETFs could be approved, making XRP more accessible and integrating it into traditional finance.

This development will likely attract a new wave of investors who might not be comfortable with crypto wallets or navigate the complexities of the crypto market.

With these ETFs, investors can easily buy and sell XRP through their familiar brokerage accounts, further increasing demand for the cryptocurrency.

While the impact on XRP’s price may not be immediate and could take over a year to fully manifest, the news is likely to cause a short-term price surge as investors react to the new investment opportunities.

The Odds Of Approval

Notably, Bloomberg analysts predict a 65% chance that the SEC will approve XRP ETFs in 2025.

While Polymarket currently places the odds at 72%, which indicates strong confidence in a favorable outcome.

Analyst James Seyffart shared an update on recent crypto spot ETF filings, saying the SEC delayed decisions on altcoin ETFs like Litecoin, Solana, XRP, and DOGE, which is typical, especially since Atkins hasn’t been confirmed yet. He added that this delay doesn’t affect their relatively high chances of approval, and the final deadlines for these ETFs aren’t until October.

ETF Decision Delayed As Atkins Awaits Confirmation

Seyffart pointed out that Paul Atkins is awaiting confirmation as Chair of the SEC, which could be important for the ongoing SEC appeal in the Ripple case. The SEC filed its appeal on January 15, challenging a ruling on XRP sales, with Ripple’s reply due by April 16. If Atkins is confirmed before this deadline, he, along with other SEC officials, could push to withdraw the appeal.

Pro-crypto lawyer Fred Rispoli believes the case will be resolved before April 16, 2025, and speculates that a deal may have been reached behind the scenes. James Murphy also hinted that ongoing talks could delay withdrawing the appeal, which might open the door for XRP spot ETFs to be approved.