XRP ETF Drama: Asset Managers Rush, SEC Unimpressed 🙃

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The world of finance, ever so serious, is now gripped by the feverish pursuit of the first U.S. spot XRP ETF. Major asset managers, in their infinite wisdom, have updated their filings with the SEC. A landmark moment? Perhaps. Or perhaps just another bureaucratic footnote. 🕴️

XRP ETF Filings: The Great American Rush

The race to launch a spot XRP exchange-traded fund (ETF) in the U.S. has reached a fever pitch. This week, two major asset managers-21shares US LLC and Franklin Holdings LLC-decided to grace the SEC with their updated Form S-1 filings. Because, you know, the SEC just loves paperwork. 🗂️

Bloomberg ETF analyst Eric Balchunas, ever the harbinger of financial news, took to the social media platform X on Nov. 7 to announce:

21shares just dropped an 8(a) for their spot XRP ETF. 20-day clock in effect.

Ah, the countdown begins. A 20-day clock, ticking away, as if the fate of humanity depended on it. The fund, expected to grace the Cboe BZX Exchange, will follow the CME CF XRP-Dollar Reference Rate-New York Variant, because why not make it complicated? Custodial duties will be shared among Coinbase Custody Trust Company, Anchorage Digital Bank, and Bitgo Trust Company, while the Bank of New York Mellon will oversee fund administration and NAV calculations. Because, apparently, one bank wasn’t enough. 🏦

Not to be outdone, Franklin Holdings LLC filed Amendment No. 3 to its Form S-1 registration statement with the SEC on Nov. 4 for its Franklin XRP ETF. This proposed ETF, expected to list on the NYSE Arca under ticker “XRPZ,” aims to track the XRP market using the same CME CF XRP-Dollar Reference Rate-New York Variant. Because originality is overrated, apparently. 📈

With both 21shares and Franklin advancing their filings within days of each other, the competition in the XRP ETF segment has reached new heights of intensity. Because nothing says “surge in institutional appetite” like a bunch of documents submitted to the SEC. 🤷‍♂️

FAQ ⏰

  • What is driving the rush for a spot XRP ETF?
    Growing institutional demand for regulated crypto exposure is accelerating filings for XRP ETFs in the United States. Or maybe they just like filing paperwork.
  • Which companies filed the latest amendments for spot XRP ETFs?
    21shares US LLC and Franklin Holdings LLC have both submitted updated S-1 filings to the U.S. SEC to list XRP-tracking ETFs. Because the SEC doesn’t have enough to do.
  • What benchmark will the proposed XRP ETFs follow?
    Both ETFs plan to track the CME CF XRP-Dollar Reference Rate-New York Variant administered by CF Benchmarks Ltd. Because simplicity is overrated.
  • Why is the XRP ETF significant for investors?
    An XRP ETF launch could legitimize XRP as an institutional asset class and unlock broader market participation. Or it could just be another financial fad. 🤔

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2025-11-09 03:58