Crypto: An XRP ETF could see the light of day within 20 days!

The countdown is on for an XRP ETF. Two asset management giants, 21Shares and Canary Capital, have activated a legal procedure that could force the automatic approval of their funds within 20 days, barring express veto from the SEC. In a climate where the institutionalization of cryptos is accelerating, this maneuver could propel XRP to the heart of regulated markets. This historic first places American authority faced with a decisive choice or a silent deadline.

The official countdown to an XRP ETF

The filing by 21Shares of an amendment to its S-1 prospectus triggered a legal mechanism that was particularly scrutinized in the world of crypto finance, while Ripple decided not to go public.

As Eric Balchunas, ETF analyst at Bloomberg, indicated in a message published on X (formerly Twitter): “21Shares has just filed a Form 8(a) for its XRP spot ETF. A 20-day countdown is now on ».

Concretely, this type of deposit activates SEC rule 8(a): in the absence of intervention from the regulator within 20 days, the ETF automatically becomes active. Such a procedure is based on the inclusion of a so-called clause “without carryover provision”which prevents any voluntary postponement of the entry into force of the document.

Canary Capital Group, another player in the sector, followed 21Shares' lead with its own XRP ETF, also subject to this 20-day regulatory deadline. Operational details of these projects allow us to better understand its scope:

• Canary Capital's ETF would be listed on Nasdaq under the ticker XRPC;

• XRP assets would be guarded by Gemini Trust Company and BitGo Trust Company, two entities already well known for this type of operation;

• The reference price used would be that of the CoinDesk XRP CCIXber 60m New York Rate index;

• Last October, Canary Capital had already launched the first spot ETFs in the United States on Litecoin (LTC) and Hedera (HBAR), demonstrating a clear desire for diversification;

• If the SEC does not raise any objections by the end of November, these products could take effect automatically, without explicit approval.

This configuration therefore puts the SEC facing a concrete deadline, and could precipitate the arrival on the market of an XRP ETF, long awaited by Ripple supporters.

Favorable ground for historic progress

The activation of the countdown comes as Ripple makes a series of strategic announcements, reinforcing a context generally conducive to the acceptance of a financial product structured around XRP.

The company has notably formalized a partnership with Mastercard and WebBank as part of the management of its stablecoin RLUSD. The latter has already crossed the symbolic threshold of one billion dollars issued, according to data shared by Ripple. Furthermore, the XRP Ledger has just exceeded 100 million validated ledgers, an indicator of technical resilience and maturity of the underlying infrastructure.

The growing interest of institutional investors in crypto-backed products is undeniable, and the introduction of an XRP ETF would enrich an offering that is still limited in terms of diversification. The strong mobilization of the XRP community, very active and influential on social networks, also adds symbolic pressure on the American regulator, in a climate where surveillance by the public and players in the sector continues to intensify.

The automatic approval of an XRP ETF, if confirmed, could pave the way for a broader institutionalization of crypto in regulated wallets, with direct implications on its liquidity, volatility, and competitive positioning. Conversely, intervention by the SEC before the 20-day deadline would prolong the uncertainty that has surrounded Ripple since 2020.