Crypto: XRP ETF Might Launch in Just 20 Days!
The clock is ticking for an XRP ETF. Two big players in asset management, 21Shares and Canary Capital, started legal steps that could lead to quick approval of their funds in 20 days. This happens unless the SEC steps in with a clear no. As crypto becomes more accepted by big investors, this move could bring XRP right into official markets. For the first time, the US watchdog faces a key decision or a quiet end date.
Picture a high-tech safe secured by a glowing lock, marked with the XRP sign. Right over the digital lock, a timer shows "20:00:00" to stand for 20 days. Three crypto fans stand around the safe.
Quick Summary Two major firms, 21Shares and Canary Capital, set off a legal path for an XRP ETF. Without SEC action in 20 days, their spot ETFs get approved on their own. This uses the "no delay change" rule, which starts SEC rule 8(a). This lines up as Ripple grows its ties, like with Mastercard and WebBank. The Real Countdown for XRP ETF 21Shares added a change to its S-1 form, starting a legal process that crypto experts watch close. At the same time, Ripple dropped its public listing plans.
ETF expert Eric Balchunas from Bloomberg shared on X (once Twitter): "21Shares filed a form 8(a) for its XRP spot ETF. Now a 20-day clock starts."
https://twitter.com/EricBalchunas/status/1986917698564247736 In real terms, this filing starts SEC Rule 8(a): no action in 20 days means the ETF goes live. It works because of a "no hold-back" clause that blocks any delay in making it official.
Canary Capital Group, another key name, did the same with its XRP ETF, tied to the same 20-day window. Here's what these plans include to grasp their size:
Canary's ETF would trade on Nasdaq with the code XRPC; XRP holdings go to Gemini Trust Company and BitGo Trust Company, both trusted for such tasks; The price basis comes from the CoinDesk XRP index for New York rates every 60 minutes; Back in October, Canary started the first US spot ETFs for Litecoin (LTC) and Hedera (HBAR), showing their push for variety; If the SEC stays quiet by late November, these ETFs start without a yes vote. This setup gives the SEC a firm deadline. It could speed up an XRP ETF that Ripple backers have wanted for years.
A Good Setup for a Big Step This timer starts as Ripple shares key updates, building a strong case for an XRP-based finance tool.
Ripple locked in a deal with Mastercard and WebBank to handle its stablecoin, RLUSD. Ripple reports show RLUSD passed one billion tokens in circulation. Plus, the XRP Ledger just hit over 100 million checked records, proving its strong base and growth.
Big investors show clear interest in crypto products. An XRP ETF would add options to a short list of choices. The XRP fan base stays busy and vocal online, adding push on the SEC. Watch from the public and industry keeps growing.
If the XRP ETF gets auto-approved, it opens doors for wider use in official investments. That affects its cash flow, price swings, and spot in the market. But if the SEC acts before 20 days end, doubts about Ripple from 2020 drag on.