XRP ETFs are expected to bring much-needed support to the third largets cryptocurrency in the markets. ETFs tend to bring long-term investment and just like we saw in the case of Bitcoins, the approval of ETFs leads to a historic bull run (BTC from $16k to $109k in 1 year).
However, the same did not work for Ethereum because they lacked a critical feature in ETH that was available to spot buyers. Ethereum ETFs lacked staking options which act as a second source of wealth or one may say passive income for its holders.
XRP ETF might not meet the same fate because they do not have the staking component and it would always be better to hold ETFs (safely and securely) than to hold XRP with self-custody (due to exchange risk, wallet risk, etc.).
List of All XRP ETFs in the USA
1. Bitwise XRP ETF
Bitwise was the first ETF applicant in the USA, having applied to the first crypto ETF by October 2, 2025. This was also the first altcoin ETF after Ethereum ETFs got approved on 30 May 2024.
The ETF was filed in partnership with the Cboe Exchange.
Despite being the first applicant, the Bitwise ETF Application was only recognized by the SEC on February 18, 2025.
2. 21Shares Core XRP Trust
21Shares was the second applicant in the XRP ETF list having first filed on November 1, 2024.
SEC has acknowledged the application on February 14, 2025.
Cboe Exchange also acts as the co-applicant in this application. with Coinbase acting as the crypto custodian.
3. Canary Capital XRP ETF
Canary Capital was the second XRP applicant having applied on October 8, 2021, with assistance from Cboe. The ETF was part of a cohort of XRP ETFs being filed by Cboe, the exchange where they will be listed.
The US SEC has acknowledged the filing and the ETF S-1 application is under review.
4. WisdomTree XRP Fund
WisdomTree is one of the key players in crypto ETFs with active ETFs in Bitcoin and Ethereum. The multinational ETF player had submitted its application along with the previous three mentioned above via Cboe Exchange.
SEC has acknowledged this filing too.
Bank of New York Mellon acts as the crypto custodian in this case.
5. Grayscale XRP ETF
Grayscale’s XRP ETF application applied on January 30, 2025, does not incorporate a fresh ETF trust like others, rather it converts the $1.6 million worth Grayscale XRP Trust into an ETF. Grayscale had earlier managed to easily get its ETF approved with a prior trust formation. At present, it holds several other altcoin trusts which it would seek to convert into an ETF.
Please open the individual images to see them in detail.
Note: In the USA and many other countries, it is mandatory to incorporate a trust before filing for an ETF approval, because the shares of this trust are listed on exchanges as ETFs.
Coinbase Custody acts as the custody partner in this case along with NYSE’s Arca being the exchange where this ETF would be listed.
6. CoinShares XRP ETF
Coinshares was one of the first XRP applicants (February 19, 2025) after Trump became the US President. The hesitation to apply before the US elections was due to previous SEC Chairman Gary Gensler rejecting all the pre-election applications before he left office.
7. ProShares XRP ETF
Pro-Shares applied for an XRP ETF days before the US SEC Chief Gary Gensler left his office (Jan 20, 2025).
8. Franklin Templeton XRP ETF
Franklin Templeton, the $1.5 Trillion asset management company has finally turned to the crypto markets with its S-1 application with the US SEC. The asset manager filed an application on 11 March 2025 with Coinbase Custody acting as the crypto custodian.
Due to the reshuffle in SEC, the applications that it received before March 11 have been deferred for judgment to newer dates. The new SEC Chairman Paul Atkins would be the one approving these ETFs.
9. Volatility Shares XRP ETF
Volatility Shares is the latest entrant in the US XRP ETF market. The ETF issuer applied for an XRP ETF on March 8, 2025. As of press date, it has not been acknowledge by the US SEC.
A unique aspect of this ETF is that it has both leveraged as well as spot components. Users subscribing to this ETF would make a decent income from both token appreciation and derivatives markets, making it safer for riskier times like FUD.
List of XRP ETFs in South America
1. Brazil’s Hashdex XRP ETF
The lone approved XRP ETF from Brazil is the Hashdex XRP ETF approved on December 10, 2025. This XRP ETF is available to trade at the B3 Exchange of the country.
Why do ETFs Matter for XRP?
ETFs are used for long-term investments made by corporations and retail participants who do not want to undertake the hassle of buying and securing crypto from an exchange. However, they do not want to miss the opportunity of investing in crypto.
ETFs also tend to have long-term investments because most of these investors are stable players who do not buy or sell under the influence of either FOMO or FUD. As a result, ETFs also tend to stabilize the price of the asset better.
XRP as an asset has global applications and therefore would be a good long-term investment.
Frequently Asked Questions
What is the ETF application process in the USA?
In the USA, ETFs start as incorporated Delaware Trusts which are then applied for conversion into ETFs through the US SEC. The application process has two stages S-1 application, where the initial filing is done for an ETF, and the 19b-4 application where the listing exchange files for self-regulation.
What is the ETF approval process in the USA?
In the USA, ETFs are treated as securities and hence need the SEC’s approval. Upon receiving the ETF S1 application, the SEC first acknowledges and then after a waiting period indicates any change. If not, it moves to the 19b-4 application and the ETF is approved or rejected based on it.
When will the SEC Approve XRP ETFs?
The SEC is likely to approve all the XRP ETFs soon because it has already lost the XRP case in the US District Court of SDNY and has retraced its appeal. Rumors also indicate that they have settled for $50 million in fines as opposed to $125 million ruled by the court.
Which crypto spot ETF has the first chance of approval in 2025?
Among all other altcoin ETFs, Litecoin and XRP ETFs have the highest chances of approval in 2025 with many experts expecting an approval by May 2025.
Why is Brad Garlinghouse favoring XRP ETFs?
As the CEO of Ripple Labs, the company that developed the XRP Ledger and still controls it, he has the highest level of control over the XRP token. Further, since 47% of XRP is not in circulation, he holds all the control over XRP tokens that would be minted in the future. A higher token price would mean Ripple Labs would be much more profitable and hence he is supporting XRP as ETFs tend to invest in cryptos for the long term.
