- Asset managers revise XRP ETF filings, adding in-kind creation to meet SEC guidance.
- Approval could drive $5–8B inflows, boosting XRP liquidity and institutional adoption.
- Ripple’s SEC case closure provides legal clarity, strengthening XRP’s ETF approval prospects.
Several prominent asset managers, including Grayscale, Bitwise, 21Shares, CoinShares, Franklin Templeton, and WisdomTree, have updated and resubmitted their filings for proposed spot XRP exchange-traded funds (ETFs). These amended submissions reflect structural changes prompted by guidance from the U.S. Securities and Exchange Commission (SEC). One notable modification is the inclusion of in-kind creation and redemption mechanisms, which supplement the traditional cash-based models.
The inclusion of in-kind options allows ETF shares to be exchanged directly for XRP, rather than requiring cash transactions. This model aligns more closely with existing processes used in commodity and equity ETFs. By adopting SEC-suggested frameworks, asset managers signal their readiness to operate within established regulatory structures. The coordinated wave of filings demonstrates industry alignment and readiness to comply with updated standards.
SEC Cautious but Engaged; Firms Adapt ETF Structures
None of the XRP spot ETFs are yet approved by the SEC. However, this recent increase in revision filings signifies that asset managers are listening to the agency and are taking steps to fulfill their needs. An ETF analyst at Bloomberg, James Seyffart, pointed out that the updates are again most likely based on the direct interaction with SEC reviewers. This trend implies that the regulatory agency is ready to collaborate with other companies that adapt to its changing expectations.
Regulatory changes introduced in July 2025 may have helped pave the way for this engagement. The SEC issued new guidelines for digital asset funds covering risk management, valuation, and custody. These developments have provided asset managers with a clearer framework, reducing regulatory ambiguity and supporting structured proposals for XRP-based products.
Market Implications of XRP ETFs:
At the time of writing, XRP maintains a significant market presence, with a trading price of approximately $3.03 as of August 23, 2025, and a market capitalization exceeding $180 billion. Trading volume per day has exceeded the mark of $10 billion, indicating a high level of investor engagement. Analysts opine that the recent movements in prices and volume spikes might be an indication of optimism over the expected approvals of the ETFs.
Analysts project that ETF approvals could attract between $5 billion and $8 billion into XRP. This influx of capital would enhance market liquidity, support XRP’s role in payments and remittances, and drive broader adoption across financial services.
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Regulatory Transparency and the Effects on Crypto Markets
The latest push by the SEC to drag on the review of ETF proposals involving XRP into October shows that the regulatory body is engaging in a careful, yet prudent process. This is in line with the way it has approached past digital asset ETFs. Approval delays do not automatically mean rejection; the delay merely highlights the intention by the regulator to fully evaluate legal aspects, operations, and the market.
These updates come as Ripple’s long-standing legal battle with the SEC finally concluded, bringing clarity to XRP’s status in the U.S. financial system. With the case closed, ETF issuers now view XRP as operating under a more stable legal framework, reducing a major hurdle to approval and strengthening its prospects as a mainstream financial instrument.
