‘Cluster’ of amended XRP ETF filings roll in as Ripple seals SEC case dismissal

8h ago•

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bearish:

A flurry of asset managers submitted amended registration statements for XRP exchange-traded funds on Friday, after a federal appeals court issued a mandate formally dismissing the US Securities and Exchange Commission’s long-running case against Ripple Labs.

Canary, CoinShares, Franklin Templeton, 21Shares, WisdomTree, Grayscale, and Bitwise all updated their S-1 filings, according to ETFStore president Nate Geraci.

“Highly notable to see them cluster like this,” Geraci wrote on X, calling it a “very good sign” for the outlook of XRP ETFs.

The filings came just hours after the Second Circuit approved the joint stipulation of dismissal, cementing Ripple’s settlement with the SEC.

Analysts have noted that ETF issuers were likely responding to SEC feedback received in recent weeks, with multiple firms choosing to submit their revisions at the same time.

Bloomberg Intelligence analyst James Seyffart said the wave of applications was “almost certainly due to feedback from the SEC,” adding that it was “a good sign, but also mostly expected.”

Bloomberg’s ETF team pegs approval odds for XRP funds near 95%, with a staggered decision window likely in late October.

JPMorgan estimates that spot XRP ETFs could trigger up to $8 billion in inflows in their first year of trading.

XRP last traded at about $3.05, up more than 6% in the past 24 hours after Fed chair Jerome Powell signalled looser policy ahead in his Jackson Hole speech on Friday.