Bloomberg ETF analyst Eric Balchunas confirmed that 21Shares had “dropped an 8(a),” officially starting the approval clock.
Franklin Templeton, Grayscale, and Canary Capital have all made amendments to speed up the approval process.
Ripple [XRP] is back in the spotlight after 21Shares filed a crucial amendment for its long-awaited Spot XRP exchange-traded fund (ETF).
The update, confirmed by Bloomberg’s Senior ETF Analyst Eric Balchunas, triggered a fresh wave of excitement. He noted that the firm had “dropped an 8(a)”, officially setting the 20-day clock in motion for potential approval.
Following the news, XRP’s price surged over 6% to $2.32, reflecting renewed investor optimism and signaling what could be a major milestone for Ripple’s mainstream adoption.
Amendment No. 3 to Form S-1, filed under Section 8(a) of the Securities Act of 1933, starts a 20-day countdown for automatic approval unless the U.S. Securities and Exchange Commission (SEC) intervenes.
The move followed similar updates from Franklin Templeton and Grayscale, both of which streamlined their filings to expedite approval.
If approved, XRP would join Bitcoin [BTC] and Ethereum [ETH] in the Spot ETF arena and potentially boosting liquidity and institutional confidence.
XRP-linked ETF activity has already gained traction abroad.
Data showed that multiple funds, including the Teucrium 2x Long Daily XRP ETF, Volatility Shares XRP ETF, Rex-Osprey, ProShares Ultra, and Purpose XRP ETF, were actively trading and seeing healthy inflows.
Among them, the Rex-Osprey XRP ETF, launched in September, has already surpassed $114.6 million in assets under management, while Teucrium’s leveraged XRP product has soared to over $384 million in net assets since April, outperforming the firm’s other crypto funds.
Well, the momentum doesn’t stop there.
This is because even Bloomberg’s James Seyffart recently reported that filings from institutions could allow XRP ETFs to begin trading within weeks. He added that this could happen even during a U.S. government shutdown.
The development mirrors how Solana [SOL] ETFs managed to go live earlier this year despite similar hurdles.
Finally, as expected, ETF Prime’s Nate Geraci also put it best when he noted that it is the “final nail in the coffin of anti-crypto regulators,” marking broader institutional acceptance of Ripple.
