XRP ETFs could see $8B inflow after approval

The Cboe BZX Exchange has filed with the SEC to list spot XRP (CRYPTO:XRP) ETFs from several asset managers, potentially transforming cryptocurrency investment.

The exchange submitted 19b-4 filings for XRP ETFs from Canary Capital, WisdomTree, 21Shares, and Bitwise.

These filings propose a rule change to the SEC, and if approved, would allow the first XRP ETFs in the United States.

The filings mark a crucial step toward potential ETF approval.

Once the SEC acknowledges a filing, the countdown to official approval begins.

Experts anticipate that a pro-crypto administration and changes in SEC leadership may expedite the approval process.

Bitwise initially filed for its Bitwise XRP ETF in October, submitting a Form S-13.

Canary Capital followed with a Form S-1 for its Canary XRP Trust.

21Shares filed for its XRP ETF, the 21Shares Core XRP Trust, in November, and WisdomTree filed for the WisdomTree XRP Fund in December.

NYSE Arca also filed to convert Grayscale’s XRP trust into a spot ETF.

CoinShares, based in Jersey, filed a Form S-1 for a CoinShares XRP ETF on January 24.

The strategy focuses on acquiring XRP from secondary markets to mitigate risks associated with Ripple Labs’ legal issues.

Following Ripple’s partial legal victory against the SEC in July 2023, optimism around XRP ETFs has grown, potentially leading to a surge in institutional investments.

JPMorgan projects that spot XRP ETFs could attract between $4 billion and $8 billion in net new assets within the first 12 months of their launch.

At the time of reporting, the XRP (XRP) price was $2.29.