The SEC is currently reviewing spot crypto ETFs, following its approval of Bitcoin and Ethereum ETFs. Now, big names like Franklin Templeton, Bitwise, 21Shares, Canary Capital, Grayscale, and WisdomTree are all competing to launch an XRP ETF.
It has started reviewing with Grayscale’s application on February 14, which began a 240-day review period. Other filings from WisdomTree, Canary Capital, and CoinShares are also under review and are now open for public comments.
However, the SEC has delayed its decision on Grayscale’s XRP ETF application, along with several other crypto spot ETFs, including those for Solana, Litecoin, and Dogecoin. Investors will have to wait until May 2025 for updates on whether these ETFs will be approved, rejected, or further delayed.
Multiple XRP ETFs Coming In May?
The new deadline for XRP ETFs is May 22, 2025, affecting filings from Canary, Bitwise, and Grayscale.
May 22 likely multiple XRP ETF approvals.
Again, while I don't think this has a specific impact on price, it will validate XRP as legit and open the floodgates to investors looking to hold a liquid, digital asset..
Furthermore, newbies who have not learnt what a wallet is,… https://t.co/eWbRM3cmId
— Vincent Van Code (@vincent_vancode) March 11, 2025
Market watchers speculate that on May 22, multiple XRP ETFs are likely to be approved, which will make XRP more legitimate and easier for investors to buy. This will attract new investors who are not familiar with crypto wallets or regulations, allowing them to buy XRP through regular stock accounts.
While it may take over a year for this to impact XRP’s price, the news will likely cause a short-term price boost.
The Odds Of Approval
Notably, Bloomberg analysts predict a 65% chance that the SEC will approve XRP ETFs in 2025. While Polymarket currently places the odds at 72%, indicating strong confidence in a favorable outcome.
Analyst James Seyffart shared an update on recent crypto spot ETF filings, saying the SEC delayed decisions on altcoin ETFs like Litecoin, Solana, XRP, and DOGE, which is typical, especially since Atkins hasn’t been confirmed yet. He added that this delay doesn’t affect their relatively high chances of approval, and the final deadlines for these ETFs aren’t until October.
Yes, the SEC just punted on a bunch of alt coin ETF filings including Litecoin, Solana, XRP & DOGE. It's expected as this is standard procedure & Atkins hasn't even been confirmed yet. This doesn't change our (relatively high) odds of approval. Also note that the final deadlines…
— James Seyffart (@JSeyff) March 11, 2025
ETF Decision Delayed as Atkins Awaits Confirmation
Seyffart pointed out that Paul Atkins is awaiting confirmation as SEC Chair, which could be important for the ongoing SEC appeal in the Ripple case. The SEC filed its appeal on January 15, challenging a ruling on XRP sales, with Ripple’s reply due by April 16. If Atkins is confirmed before this deadline, he, along with other SEC officials, could push to withdraw the appeal.
Pro-crypto lawyer Fred Rispoli believes the Ripple case will be resolved before April 16, 2025, and speculates that a deal may have been reached behind the scenes. James Murphy also hinted that ongoing talks could delay withdrawing the appeal, which might open the door for XRP spot ETFs to be approved.
