The XRP ETF Approval Race: Here's What You Need to Know

72 crypto ETFs are in the SEC’s queue, and XRP applications are heating up. Over 10 major asset managers—Grayscale, Bitwise, 21Shares, WisdomTree, Franklin, and others—have thrown their hats in the ring for spot XRP ETF approval.

The Timeline That Matters

The SEC has been busy: after acknowledging these applications, the regulator has 240 days to make its move. Here’s the critical part—the final approval deadlines are clustering around mid-October 2025:

• Grayscale XRP Trust conversion: October 18
• 21Shares XRP ETF: October 19
• Bitwise: October 20
• Canary: October 24
• WisdomTree, CoinShares, Franklin: October 25

While each has its own deadline, the SEC could greenlight multiple filings on the same day (remember what happened with Bitcoin and Ethereum ETFs last year?).

What the Betting Markets Say

Polymarket traders are pricing in an 79% probability of XRP ETF approval by year-end, though near-term odds for late July have dipped to 43% (down 10% in 24 hours). The community’s confidence is riding on the SEC’s friendlier stance toward crypto under the new administration.

The Bigger Picture

XRP isn’t alone—there are 72 spot crypto ETF applications pending, covering everything from Solana and Dogecoin to Cardano and Litecoin. The floodgates are opening, and institutions are ready to enter.

The real question: Which will get approved first? Stay tuned.