The Great XRP ETF Saga: A Tale of Bureaucracy and Bitcoin‘s Bitter Rivalry 🧠
Who confirmed the development? 🐝
Bloomberg ETF analyst Eric Balchunas confirmed that 21Shares had “dropped an 8(a),” officially starting the approval clock. Ah, the eternal dance of regulatory waltz-where every step is a step backward, yet the clock ticks on. 🕰️
Which other companies have updated their XRP ETF filings? 🎭
Franklin Templeton, Grayscale, and Canary Capital have all made amendments to speed up the approval process. Like a pack of wolves circling a vulnerable lamb, they’re all hoping the SEC doesn’t throw a wrench into their plans. 🐺
Ripple [XRP] is back in the spotlight after 21Shares filed a crucial amendment for its long-awaited Spot XRP exchange-traded fund (ETF). A beacon of hope for crypto enthusiasts, or a fool’s errand for the SEC? 🌟
21Shares’ New Move on XRP ETF: A Masterstroke or a Disaster? 🧠
The update, confirmed by Bloomberg’s Senior ETF Analyst Eric Balchunas, triggered a fresh wave of excitement. He noted that the firm had “dropped an 8(a)”, officially setting the 20-day clock in motion for potential approval. The SEC, that paragon of efficiency, now has 20 days to either approve or… well, do nothing, as is their custom. 🧠
Following the news, XRP’s price surged over 6% to $2.32, reflecting renewed investor optimism and signaling what could be a major milestone for Ripple’s mainstream adoption. A 6% jump? More like a 600% leap in desperation. 🐿️
Amendment No. 3 to Form S-1, filed under Section 8(a) of the Securities Act of 1933, starts a 20-day countdown for automatic approval unless the U.S. Securities and Exchange Commission (SEC) intervenes. The SEC, ever the drama queen, could derail this with a single sigh. 😒
Other Institutions Are Ramping Up Their XRP ETF: A Crypto Opera 🎭
The move followed similar updates from Franklin Templeton and Grayscale, both of which streamlined their filings to expedite approval. Franklin Templeton, Grayscale, and Canary Capital-each playing their part in this grand crypto opera, hoping the SEC doesn’t throw a wrench into their plans. 🎭
If approved, XRP would join Bitcoin [BTC] and Ethereum [ETH] in the Spot ETF arena and potentially boosting liquidity and institutional confidence. A welcome addition to the “I’m not a fan of crypto, but I’m investing in it anyway” club. 🧠
XRP-linked ETF activity has already gained traction abroad. Meanwhile, abroad, the XRP ETFs are already dancing in the moonlight, while the SEC stares blankly at its coffee cup. 🌙
Data showed that multiple funds, including the Teucrium 2x Long Daily XRP ETF, Volatility Shares XRP ETF, Rex-Osprey, ProShares Ultra, and Purpose XRP ETF, were actively trading and seeing healthy inflows. A veritable circus of financial acrobatics. 🎪
Among them, the Rex-Osprey XRP ETF, launched in September, has already surpassed $114.6 million in assets under management, while Teucrium’s leveraged XRP product has soared to over $384 million in net assets since April, outperforming the firm’s other crypto funds. A triumph of leverage, or a warning to the uninitiated? 🧠
What’s More? The SEC’s 20-Day Clock Is Ticking… Or Is It? ⏳
Well, the momentum doesn’t stop there. Ah, the eternal cycle of hope and despair. 🌪️
This is because even Bloomberg’s James Seyffart recently reported that filings from institutions could allow XRP ETFs to begin trading within weeks. He added that this could happen even during a U.S. government shutdown. And if that weren’t enough, the ETFs might launch even during a government shutdown-because nothing says ‘regulatory rigor’ like a furloughed SEC. 🚧
The development mirrors how Solana [SOL] ETFs managed to go live earlier this year despite similar hurdles. A lesson in perseverance, or a case of ‘the early bird gets the worm, but the second mouse gets the cheese’? 🐭
Finally, as expected, ETF Prime’s Nate Geraci also put it best when he noted that it is the “final nail in the coffin of anti-crypto regulators,” marking broader institutional acceptance of Ripple. A ‘final nail in the coffin of anti-crypto regulators,’ according to ETF Prime’s Nate Geraci, who clearly has a soft spot for chaos and crypto. 🧨
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2025-11-09 09:16