- SEC to review multiple XRP ETF applications this October week.
- XRP futures surpass $1 billion in open interest, signaling growth.
- Ripple’s national bank charter application under review, impacting XRP.
October is shaping up to be a crucial month for the XRP community, as the U.S. Securities and Exchange Commission (SEC) prepares to review several applications for spot XRP exchange-traded funds (ETFs). These rulings, scheduled between October 18 and October 25, could determine whether XRP joins Bitcoin and Ethereum as the third cryptocurrency to secure approval for a U.S.-listed spot ETF.
The SEC’s timetable places the spotlight on several high-profile ETF applications. According to an update from XRP_Cro, the agency is set to consider Grayscale’s XRP ETF on October 18, followed by 21Shares Core XRP Trust ETF on October 19.
Bitwise’s proposal will be reviewed on October 22, with Canary Capital’s and CoinShares’ applications slated for consideration on October 23. Finally, WisdomTree’s filing is expected to be assessed on October 24.
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These filings arrive amid a shift in regulatory standards. In recent weeks, the SEC introduced new generic listing rules for cryptocurrency ETFs. This move could speed up approval processes, breaking away from the case-by-case approach that previously defined the agency’s handling of such proposals.
Momentum Builds Around XRP Investment Products
XRP-related investment products are already gaining traction in the market. The launch of the REX-Osprey XRP ETF in late September marked the first U.S.-listed spot XRP ETF. Since then, the product has expanded, even offering options trading. This rapid growth highlights the increasing demand for regulated XRP investment vehicles.
In addition, the SEC has granted clearance for the Hashdex Index ETF, signaling that the regulatory landscape for crypto assets may be becoming more favorable for products linked to XRP.
On the derivatives side, XRP futures contracts have seen significant growth. Data from CME Group shows that XRP futures open interest recently surpassed $1 billion, marking the fastest growth rate among crypto derivatives contracts on the exchange.
Furthermore, CME will launch options on XRP and Micro XRP futures on October 13, a move expected to broaden institutional access to XRP.
As the SEC works toward making decisions on the ETF filings, the increasing institutional interest in XRP futures and options is setting the stage for a major shift in the digital asset’s market structure. Additionally, Ripple’s ongoing application for a national bank charter, under review by the Office of the Comptroller of the Currency (OCC), could further impact XRP’s regulatory landscape.
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