- October’s deadlines could define XRP’s mainstream financial market entry.
- SEC’s new process accelerates XRP ETF approval, boosting market volatility.
- Key XRP ETF filings may reshape cryptocurrency’s institutional investment landscape.
As October approaches, XRP is preparing for a pivotal moment. With several crucial ETF filings set to be decided by the U.S. Securities and Exchange Commission (SEC), October could prove to be a defining one for the cryptocurrency.
According to updates from Stern Drew, a series of filings from major companies are poised to reshape XRP’s position in the financial markets.
A growing number of firms, including Grayscale, Bitwise, and 21Shares, have filed for XRP-based exchange-traded funds (ETFs). Each of these filings could significantly impact the way institutional investors gain exposure to XRP, offering a new pathway for traditional investors into the cryptocurrency space.
Also Read: Analyst to XRP Holders: ‘The Best Part of the Cycle Starts Now’ – Here’s Why
Key Deadlines for October
The SEC is expected to review multiple XRP ETF filings in the coming weeks. Grayscale’s filing is up first, with a deadline on October 18. Following that, 21Shares will face its deadline on October 19, and Bitwise will follow with its deadline on October 20.
Other companies, including Canary Capital, WisdomTree, and Franklin Templeton, are all set for their deadlines in late October.
Meanwhile, ProShares’ XRP futures ETFs have already gone live, signaling strong market interest in XRP investment products. The futures ETFs offer different strategies, including long, short, and ultra-long exposure, further broadening the spectrum of investment opportunities in XRP.
SEC’s New Approval Process Speeds Up Decision-Making
Adding to the excitement, the SEC has recently asked issuers of spot ETFs for XRP and other major cryptocurrencies to withdraw their 19b-4 filings for each tokens. This move is part of a shift to new generic listing standards, which simplify the approval process.
Under these updated guidelines, exchanges no longer need to submit individual filings for each token, speeding up the decision-making process.
According to Eleanor Terrett, this change could lead to quicker decisions on XRP ETFs, potentially increasing volatility in the market as the SEC accelerates its review process. This shift could significantly impact XRP’s future, making October even more critical for its position in the market.
With these upcoming deadlines, October is set to be a historic month for XRP. The SEC’s decisions will likely determine the future path for XRP’s acceptance in traditional financial markets.
Also Read: Analyst to XRP Holders: ‘The Best Part of the Cycle Starts Now’ – Here’s Why
