The anticipated arrival of XRP exchange-traded funds (ETFs) is on the horizon, as both Bitwise and Canary Capital have submitted the necessary final updates for their respective spot XRP ETFs. This preparation indicates a potential launch in mid-November that could significantly alter the cryptocurrency ETF market.
Recent filings with the Securities and Exchange Commission (SEC) reveal that Canary Capital’s XRP ETF is expected to go live around November 13–14, with Bitwise’s product following shortly after, anticipated between November 19–20. These timelines are derived from a 20-day countdown that initiates upon the removal of the SEC’s “delay amendment,” a process that has been expedited due to a recent government shutdown.
With a growing number of at least seven issuers working on XRP ETFs, analysts note an intensifying race to capture the first wave of institutional interest in Ripple’s native cryptocurrency.
The current dynamics in the ETF market reflect an evolving landscape. Just last week, Bitwise’s Solana ETF (BSOL) distinguished itself by attracting a remarkable $417 million in inflows, making it the leading crypto ETF in the U.S. This achievement has surpassed the combined inflows of notable products such as BlackRock’s Bitcoin ETF (IBIT) and Ethereum’s ETH ETFs, adding pressure on XRP issuers to perform.
Spot ETFs, as opposed to futures-based products, represent a significant advancement in the cryptocurrency space since they are backed directly by the assets. In the case of XRP, this means that actual tokens will be held to underwrite each share, thereby tightening supply and potentially enhancing price demand. The increasing appetite for altcoin ETFs, including those for Litecoin and Hedera (HBAR), illustrates a rapid expansion of institutional crypto offerings beyond just Bitcoin and Ethereum.
For XRP, the implications are particularly noteworthy. After enduring years of legal challenges and skepticism regarding its status, the launch of spot ETFs could authorize Ripple’s token with the institutional recognition many investors have been anticipating.
Looking ahead, should everything proceed as planned, mid-November will herald the official introduction of spot XRP ETFs onto Wall Street. Canary Capital’s product is poised to be the first to debut, with Bitwise and other issuers likely to follow swiftly once they complete their final amendments.
For XRP, this moment represents more than just another financial product launch; it signifies a long-hoped-for endorsement that could solidify its place within institutional investment portfolios while triggering a fresh wave of competition within the crypto ETF sector.
