A Major Move Toward Launching a Spot Exchange-Traded Fund (ETF) for XRP

In one of the most significant developments in the crypto market of 2025 21Shares – a global leader in digital asset management – announced a new amendment to its filing with the U.S. Securities and Exchange Commission (SEC) regarding a spot Exchange-Traded Fund (ETF) for XRP.
This amendment, known as Form S-1 Amendment No. 3 marks the critical stage that officially triggers a 20-day review period by the SEC, paving the way for the potential launch of the first U.S. XRP spot ETF.

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Background on Spot ETFs

Spot cryptocurrency ETFs are financial instruments that track the real-time price of a digital asset — such as Bitcoin or Ethereum — and allow investors to trade it on traditional stock exchanges without directly holding the token itself.
In early 2024, the U.S. approved the historic Bitcoin Spot ETF followed by several applications for Ethereum and Solana.
Now, XRP — one of the oldest and fastest digital assets used for cross-border payments — has entered the spotlight.

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The Importance of 21Shares’ Step

Filing the third amendment to Form S-1 is a major legal milestone, indicating that the company has met most of the SEC’s requirements and entered the final evaluation phase.
According to CryptoDnes, the start of the 20-day review period suggests that the potential approval and launch of the XRP ETF could happen before the end of 2025 provided the SEC raises no further objections.

This development comes amid improving relations between crypto firms and U.S. regulators especially following Ripple Labs legal victories against the SEC in past disputes over whether XRP should be classified as a security.

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Potential Market Impact

Historically every announcement of a new cryptocurrency ETF has led to sharp price surges and trading volume spikes fueled by the entry of major institutional investors.
If the XRP ETF is approved analysts expect:

1. Increased institutional demand for XRP through regulated investment channels.
2. Higher liquidity in both U.S. and European markets.
3. A stronger role for Ripple as a financial bridge for banks and global payment networks.

However, some experts warn that SEC approval is not guaranteed as questions still linger regarding XRP’s exact legal classification — despite previous rulings in Ripple’s favor.

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Expert Opinions

Robert McGee Senior Digital Markets Analyst at Bloomberg Intelligence, stated:
“Approval of an XRP ETF would represent formal recognition of XRP as a legitimate financial asset, and it could spark a new wave of institutional adoption across blockchain-based payment systems.”

Some experts caution that the SEC may use this new review period to reassess the systemic impact of alternative-coin ETFs on financial stability.

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Conclusion

The 21Shares filing marks a turning point in the evolution of digital financial products.
Should the XRP ETF be approved, it would represent the first official acknowledgment by U.S. regulators of XRP’s legitimacy as a stable investment asset potentially encouraging a new wave of ETF listings for other cryptocurrencies.
Conversely any delay or rejection by the SEC would prolong the uncertainty surrounding institutional investment in non-Bitcoin and non-Ethereum assets.

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🔗 Source : https://cryptodnes.bg/en/xrp-etf-countdown-begins-as-21shares-triggers-sec-review/

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