What’s Going On With US XRP ETFs? Status, Price Outlook, and ExpectationsWill a Spot Approval Move XRP Price? A Realistic Take

The race to launch an XRP exchange-traded fund (ETF) is heating up, but investors remain divided on how much it could move the altcoin’s price.

The US market already has one XRP-linked ETF — the REX-Osprey XRPR — but traditional spot products are still awaiting approval from the Securities and Exchange Commission (SEC).

Current Status: XRP ETFs in the US (October 2025)

• A live US product exists: REX-Osprey’s XRPR began trading in mid-September. It uses a ’40-Act hybrid structure (holds XRP directly and via other XRP ETPs). It is not the classic ’33-Act “pure spot” design.
• Traditional “spot” filings are queued: Multiple issuers, including CoinShares, Grayscale, Bitwise, WisdomTree, 21Shares, and others, have filed or signaled intent for spot XRP ETFs using the standard 19b-4/S-1 path.
• Process friction remains: US regulatory bandwidth has been tight. Filings bunch around October decision windows, but review delays and procedural steps temper near-term odds.
• Leveraged wrappers surfaced: At least one issuer has floated leveraged XRP ETF concepts. Those require separate scrutiny and say little about spot approval odds.

What a true “spot XRP ETF” would change

The XRPR ETF, which began trading in September, gives investors indirect exposure to XRP through a hybrid structure.

It holds XRP directly and through other XRP-based funds, offering regulated access to the token without requiring crypto wallets.

Despite a strong debut, XRPR’s performance has been muted, reflecting broader market caution and thin inflows.

Meanwhile, several asset managers — including CoinShares, Grayscale, and Bitwise — have filed for traditional spot XRP ETFs. Several of them have an upcoming SEC approval deadline between October 18 and 25.

These filings follow the 19b-4 and S-1 process under the Securities Act of 1933, the same path used by Bitcoin and Ethereum ETF applicants.

However, the US government shutdown and SEC backlog have delayed decisions expected between October 18 and 25.

If approved, a spot XRP ETF would allow investors to gain exposure through mainstream brokerage platforms.

It would also enable institutional funds and registered investment advisors to hold XRP in compliance with portfolio rules. This access could tighten trading spreads, increase liquidity, and deepen market participation.

Will a Spot Approval Move XRP Price? A Realistic Take

Short term: a tradable catalyst—tempered

• Expect a pre-decision run-up if approval odds rise, then a “buy-the-rumor/sell-the-news” dynamic around the event.
• The move’s size hinges on how much is already priced from XRPR’s launch and earlier speculation.

Medium term: flows determine trend

• Sustained upside needs persistent net creations and evidence that wealth platforms actually place the fund on approved lists.
• If advisors allocate even small model weights, price support can compound. If allocations stall, the post-launch drift can fade.

Why the move may be smaller than BTC/ETH events

• Precedent effect: BTC and ETH were “firsts” in their lanes; XRP would follow after the market learned how to route crypto ETF orders.
• Existing proxy: XRPR already channels demand. A pure spot fund is incremental, not revolutionary.
• Issuer mix and fees: If fees land high or distribution is narrow, inflows soften.
• Supply optics: Ongoing escrow releases and legacy distribution overhangs can blunt net-inflow impact.

Ultimately, the approval of a spot XRP ETF would be directionally bullish but not transformative on its own.

The real test will come after launch — when capital flows, liquidity, and institutional adoption reveal whether the product truly changes how investors engage with XRP.

Until then, the altcoin’s price will continue to move more with market sentiment and macro conditions than with regulatory headlines.

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