- 21Shares triggers 20-day countdown for likely SEC approval of space XRP ETF.
- Canary Capital’s XRP ETF also enters countdown window, might also alternate below ticker XRPC.
- Ripple features momentum with new partnerships and RLUSD stablecoin milestone.
The countdown for a likely US space XRP alternate-traded fund (ETF) has formally begun, with asset manager 21Shares submitting an amended prospectus that activates a 20-day window below Fragment 8(a) of US securities regulation.
The transfer marks a significant step in direction of imaginable approval from the Securities and Trade Commission (SEC) and has sparked renewed optimism interior the XRP community.
21Shares triggers 20-day countdown
The building was first highlighted by Bloomberg ETF analyst Eric Balchunas, who well-known in a publish on X (formerly Twitter) that “21Shares unbiased true dropped an 8(a) for his or her space XRP ETF. 20 day clock in fill.”
The Fragment 8(a) provision stipulates that a registration assertion turns into effective automatically after 20 days except the SEC intervenes to lengthen or query amendments.
The amended submitting removes any “delaying amendment” language, meaning the countdown to likely effectiveness is now underway.
If the SEC doesn’t act interior the 20 days, the submitting would turn out to be effective automatically, paving the sort for the fund’s open.
This procedural step has also been taken by other likely XRP ETF issuers, signaling increasing competition among asset managers to lisp the first US space XRP ETF to market.
Canary Capital joins the XRP ETF lope
The 21Shares submitting follows a the same transfer by Canary Capital Group, whose XRP ETF submitting also entered its 20-day countdown window earlier.
Canary Capital, in a publish on social media, suggested traders to “prepare,” adding that the Canary XRP ETF (XRPC) is “coming soon.”
The proposed ETF would alternate on Nasdaq below the ticker XRPC, preserving XRP in custody with Gemini Have faith Firm and BitGo Have faith Firm.
The fund would affirm the CoinDesk XRP CCIX New York Price as its official pricing benchmark.
Canary Capital’s entry into the lope comes after the agency successfully launched the first US space ETFs for Litecoin (LTC) and Hedera (HBAR) in dreary October — a transfer that strengthened investor self assurance in the likely for extra crypto ETF approvals, in conjunction with for XRP.
Ripple momentum builds before likely approval
The XRP ETF growth adds to what has already been a significant length for Ripple Labs and the broader XRP ecosystem.
Ripple no longer too prolonged in the past launched new partnerships with Mastercard and WebBank to toughen settlement for its RLUSD stablecoin, while the XRP Ledger (XRPL) surpassed 100 million ledgers recorded.
Ripple’s stablecoin RLUSD also finished a milestone, crossing the $1 billion circulation heed.
These milestones, coupled with the ETF momentum, possess fueled optimism that institutional curiosity in XRP might also upward thrust sharply if an ETF features regulatory clearance.
Market participants point out that a US-licensed space XRP ETF would present extinct traders with publicity to XRP thru regulated channels, doubtlessly driving liquidity and adoption.
As the 20-day countdown unfolds, the crypto community remains on glimpse.
Must soundless the SEC refrain from issuing delays, the 21Shares XRP ETF might also soon turn out to be the most contemporary addition to the increasing lineup of digital asset investment products in the US.
