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- Asset managers, including Grayscale and Franklin Templeton, have filed amended statements for their proposed Exchange Traded Funds (ETFs).
- Analysts believe the applicants responded to a request from the US Securities and Exchange Commission (SEC) for better regulatory standing.
Deadlines for the SEC’s decision on XRP-related spot Exchange Traded Fund (ETF) applications are fast approaching as multiple applicants, including “Grayscale, Bitwise, Canary, CoinShares, Franklin, 21Shares, and WisdomTree,” file updated S-1s.
According to Bloomberg analyst James Seyffart, asset managers likely responded to feedback from the SEC, marking a positive sign towards a potential approval.
A bunch of XRP ETF filings are being updated by issuers today. Almost certainly due to feedback from the SEC. Good sign, but also mostly expected.
What Was Actually Amended
Our review of the updated filing discloses that the amendment was primarily focused on some of the funds’ structure. The idea was to ensure that “cash creation or XRP and cash or in-kind redemption” is allowed. Technically, this amendment is reported to position these products in line with the regulatory expectations of the regulator.
Apart from Seyffart, this development has also caught the attention of NovaDius Wealth president Nate Geraci, who emphasized that this is a good sign.
Highly notable to see them cluster like this. Very good sign IMO.
In the midst of this update, ETF analyst Eric Balchunas has hinted that the XRP ETF filing of Grayscale could receive a final decision by October 18. As reviewed in our earlier discussion, Balchunas believes that filings from 21Shares, Bitwise, and Canary could also receive their decisions by October 19, October 20, and October 24, 2025, respectively. The outcome of WisdomTree, Coinshares, and Franklin Templeton’s XRP ETF filings could be known by October 25.
Odds of Approval and XRP Price Reaction
In our recent update, Balchunas and Seyffart were said to have fixed their XRP ETF approval odds at 95% after prediction platform Polymarket adjusted its prediction to 75%.
The timing of these approvals/launches is more uncertain. It could be something we’re talking about in the next month or two. Or it could be something that waits until October or later. Matter of when, not if.
Meanwhile, this is just one of the three major events that could set the XRP market up for an explosive run. As highlighted in our recent coverage, lawyer Bill Morgan expects Ripple’s National Bank Charter application to be approved in October.
Already, the last catalyst is also playing out as the US Court of Appeals for the Second Circuit has approved a joint stipulation by Ripple and the SEC to dismiss existing appeals.
This development triggered a quick reaction in the market, skyrocketing XRP’s demand and sending the price from $2.7 to $3.0 within 24 hours. Currently, the asset is up by 6% on its daily price chart. Its 24-hour trading volume has also exploded to $10.4 billion, representing a 117% surge from the previous day.
According to our recent analysis, the Elliott Wave Structure hints that the price could continue to rise to between $3.65 and $3.82. In the long run, analyst EGRAG CRYPTO expects the price to reach $17, as noted in our previous post.
