?? DESCRIPTION

The approval of a U.S.-based spot $XRPexchange-traded fund (ETF) may be nearing, as the Securities and Exchange Commission (SEC) has officially begun reviewing the WisdomTree $XRPTrust.

The application, filed by Cboe BZX Exchange, is under consideration by the SEC, and the assessment is being made of whether the proposed product meets the necessary standards for market integrity and investor protection.

This review, detailed in Release No. 34-103124, initiates a 240-day window for the regulator to approve or reject the filing and opens the door for public comments.

The ETF would track $XRP’s price via the CME CF Ripple-Dollar Reference Rate, allowing investors to gain exposure through standard brokerage accounts and eliminating the need for private keys or self-custody solutions.

This development could signal a shift to altcoins expanding beyond Bitcoin (BTC) and Ethereum (ETH).

Other spot $XRPETF application

Several other firms are also pursuing spot $XRPETFs, though most remain in the early stages. Companies like 21Shares, Grayscale, Bitwise, Canary Capital, CoinShares, ProShares, Volatility Shares, and Franklin Templeton have yet to advance past initial filings or submit the required 19b-4 forms.

Franklin Templeton’s application, also filed via Cboe BZX, has seen one of the recent developments. As reported by Finbold, the SEC has extended its decision deadline to June 17, 2025, to allow more time for evaluation under Section 19(b)(2).

Meanwhile, betting markets reflect growing confidence in a 2025 approval. According to Polymarket, there’s an 83% probability the U.S. will greenlight an $XRPETF by year’s end.

If that happens, the U.S. would become the second country to approve such a product, following Brazil’s launch of XRPH11, listed on the B3 stock exchange as the $XRPHASH CI ETF.

However, the Brazilian fund has had little effect on $XRP’s price due to the limited size of the local financial market.

$XRPprice analysis

At the time of writing, $XRPwas trading at $2.31, down 0.5% on the day and nearly 2% over the past week.

The token’s immediate target is to reclaim the $2.50 resistance level, which remains key for any potential move to new highs.

Featured image from Shutterstock

This detailed match analysis covers key moments, player performances, and tactical insights. Download the full report in PDF format.