With the government shutdown causing the SEC to stall its operations, the much-awaited approval of the XRP exchange-traded funds appears to be on a delayed schedule. With the deadline for approval previously scheduled for October, there were several that were originally scheduled for this time.

With the SEC running on limited staffing, they have paused all upcoming processes until the crisis passes.

Why SEC Delays Are Affecting XRP ETF Approvals?

With an accumulated backlog and legal verifications that are in need of confirmation, the SEC may need another four weeks to process the onboarding, according to industry experts.

This has largely shifted the approval date for XRP ETFs, as clearing the pending paperwork may take up more time than the initial expectation. However, the SEC has updated their framework by removing the 19b-4 requirement.

This could mean that the SEC can focus on the S1 filing process, which could shorten the overall time required for the ETF approval process. The new generic listing standard offers a more streamlined process for approving ETF applications. This is a promising scenario given that no further hiccups come along the way.

5 XRP ETFs Already Live and Trading

A total of five XRP ETFs are live. They are providing futures or leveraged trading exposure at the moment.

Teucrium 2x Long Daily XRP ETF

Even under the pressures of the massive government shutdown, this ETF went live in October. They have possibly leveraged the 1940 Act to speed up their application. It is currently available under the ticker XXRP.

Volatility Shares XRP ETF

On May 22, 2025, this ETF went live under the ticker XRPI on Nasdaq. XRPI is the first non-leveraged futures ETF in the US.

Volatility Shares 2X XRP ETF

Under the ticker XRPT, this ETF went live on Nasdaq in July of 2025. XRPT offers a leveraged position with a 2x multiplier. The asset tracks daily XRP prices through XRP futures.

ProShares Ultra XRP ETF

This ETF offers two times the daily performance of XRP. The ticker for this ETF is UXRP. It was launched in mid-July of 2025. The XRP performance is tracked through futures and swaps.

REX-OSPREY

On September 18, 2025, REX-OSPREY went live under the ticker XRPR. This ETF aims to provide direct exposure to the XRP price without holding the cryptocurrency. XRPR also gained access via the 1940 Act for the ETF framework.

Spot XRP ETFs Pending SEC Approval

As of now, six spot XRP ETFs are waiting for approval from the SEC to be listed. Below are the details of these six spot XRP ETFs.

Grayscale

The application for converting the XRP trust to an ETF was filed on November 21, 2024, using the Form 19b-1. The final deadline for onboarding was set to be on October 18th, 2025.

WisdomTree

Wisdom Tree plans on launching an ETF that directly tracks the price of XRP. The application was submitted on December 2, 2024, via Form S-1. Final deadline is October 24, 2025.

CoinShares

Application submitted on 24th January, 2024, using Form S-1. Awaiting approval since then, and the deadline is on October 25th, 2025.

21Shares Core Trust

They filed an application using the Form 19b-1 on November 21st of 2024. They have requested to list their Core XRP Trust shares on the Cboe BZX exchange. Final deadline was on 19th October, 2025.

Canary Capital

Application submitted on October 8th, 2024, using Form S-1. They plan on launching a spot XRP ETF.

Bitwise

Applied on 2nd December 2024 via Form S-1. The type is a spot XRP ETF that will directly hold XRP. The deadline was set for October 20, 2025.

Chances of XRP ETF Launches in 2025

If the SEC’s updated framework, with a core focus on S-1 applications, moves forward, the entire process can be sped up, according to industry experts.

In such a scenario, the probability of XRP ETF launches increases from 86% to 99%. Since the decision regarding Form 19b-1 is not final yet, firms that had applied through the form are in a state of dilemma at the moment.

However, from what seems to be happening, the SEC has sped up the process, and there might be tailored solutions in case the updated framework creates problems selectively for firms.

Conclusion

Industry experts had hoped that the month of October would play a pivotal role for crypto. The ongoing government shutdown and the consequent shortage of manpower at the SEC, the sentiment has largely changed. 

However, while the delay was inevitable, hopes are still high as most of the market veterans consider this delay as a temporary hiccup rather than a complete cancellation of the XRP ETF market entry.

Also Read: XRP Price Prediction 2025-2030: Short-Term and Long-Term Predictions

FAQs

According to the SEC, there are a total of 6 active XRP filings.

A total of 5 XRP ETFs are currently live and trading.

An ETF does not necessarily mean to follow the exact price. They may set up one share to hold more than one XRP, leading to a larger price.

It depends on the type of ETF. Leveraged ETFs carry more risk than crypto and the corresponding ETFs.

XRP ETFs give regulated access to investors without having to hold the cryptocurrency. This also creates new market inflows and improves overall liquidity