U.S. Spot XRP ETF Is So Close as Franklin Templeton, Bitwise, & Canary Capital File Updates

Franklin Templeton, Bitwise, and Canary Capital have filed revised S-1 registrations for spot XRP ETFs. The filings point to possible mid-November launches. These developments could strengthen institutional demand for XRP and influence its price trajectory in the weeks ahead.

The race to launch the first U.S. spot XRP exchange-traded fund (ETF) is moving quickly, with Franklin Templeton, Bitwise, and Canary Capital all submitting amended registration statements to the Securities and Exchange Commission (SEC) in recent days. The updates point to mid-November as a possible launch window. This timeline could prove important for XRP’s (XRP-USD) price and broader investor sentiment.

Major Asset Managers Move Closer to an XRP ETF Launch

Bloomberg ETF analyst James Seyffart revealed that Franklin Templeton’s latest S-1 filing includes shortened “8(a)” language, which a legal provision that allows a registration to take effect automatically within 20 days. This adjustment removes the need for direct SEC approval and signals confidence that regulatory hurdles are easing.

The new prospectus, dated November 4, confirms that the Franklin XRP Trust will hold XRP as its primary asset, tracking the token’s market price. Both Bitwise and Canary Capital made similar amendments last week, removing the “delaying amendment” that typically lets the SEC control timing.

According to journalist Eleanor Terrett, Canary’s ETF could be first out of the gate, with a potential November 13 debut, pending final clearance from Nasdaq through its 8-A filing. This streamlined process mirrors the one used for recent ETF launches tied to Solana (SOL-USD), Litecoin (LTC-USD), and Hedera (HBAR), all of which went live under the same automatic approval mechanism.

Bitwise’s BSOL ETF achieved one of the strongest debuts of the year, recording over $56 million in first-day trading volume, the highest among more than 850 ETFs launched in 2025.

What It Could Mean for XRP’s Price

The growing momentum around XRP ETF filings comes just months after Ripple resolved its five-year legal battle with the SEC. This has cleared a path for traditional institutions to gain exposure to the token.

XRP now ranks third among all crypto ETF targets, with around 20 filings currently under review, trailing only Bitcoin and Solana. Analysts say these updates represent a significant shift in the regulatory climate and could attract both crypto-focused funds and mainstream investors seeking diversified exposure.

Nate Geraci, president of NovaDius Wealth Management, said XRP ETFs could “launch within the next two weeks,” calling it a “major milestone for digital-asset investing.”

For XRP’s price, the filings could serve as a short-term catalyst, reflecting renewed optimism in the token’s institutional potential. However, traders caution that the real impact will depend on how quickly investors adopt XRP ETF products once trading begins.

At the time of writing, XRP is sitting at $2.2289.