On Monday, September 29, I speculated about a potential greenlight for all crypto-spot ETFs, given the SEC’s previous steps to prevent early mover advantage.
The latest developments mean that all seven XRP-spot ETFs could potentially launch by Friday, October 3. Currently, the final decision deadlines for the XRP-spot ETFs are:
With GLS in effect, these deadlines no longer constrain launches, allowing for a simultaneous October debut.
Bloomberg Intelligence Senior ETF Analyst Eric Balchunas reacted to the reports, stating:
“This was something we thought could happen. It makes sense as you don’t need 19b-4s in the post-GLS world. Just not sure how the launch schedule will work yet. More will be revealed soon.”
Balchunas added:
“Honestly, the odds are really 100% now. Generic listing standards make the 19b-4s and their ‘clock’ meaningless. That just leaves the S-1s waiting for formal green light from Corp finance.”
The potential launch of all 21 crypto-spot ETFs, across multiple cryptos, on the same day sets the stage for a chaotic fourth quarter. Crypto-spot ETF flow trends could break the broader inter-market correlation and see differentiation by investor bias, potentially based on real-world utility.
NovaDius Wealth Management President Nate Geraci warned about a pivotal moment for the crypto market, stating:
“Enormous next few weeks for spot crypto ETFs. SEC final deadlines approaching on numerous filings.”
Yet, BlackRock (BLK) has remained silent on its XRP-spot ETF plans. However, the GLS means that the ETF issuer could list and trade at any time. BlackRock could potentially launch an iShares XRP Trust the same day that the seven XRP-spot ETFs launch. While it is plausible for BlackRock to launch at a later date, the issuer may want to avoid giving other ETF issuers a first-mover advantage.
BlackRock’s iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA) have reported net inflows of $60.82 billion and $13.16 billion, dominating the BTC-spot and ETH-spot ETF markets. The substantial inflows underscore the potential impact of an iShares XRP Trust on XRP’s price outlook.
Traders should monitor BlackRock’s crypto-spot ETF activity closely. An iShares XRP Trust listing would be a likely price catalyst.
XRP climbed 0.47% on Monday, September 29, following the previous day’s 2.17% rally, closing at $2.882.
The token trailed the broader market (1.48%), but moved nearer to the psychological $3 level. Traders are watching the following technical levels:
In the near term, several key scenarios could influence price trends:
The balance of ETF flows, regulatory news, and demand from blue-chip companies could determine whether XRP tests support levels or breaks above resistance.
Bearish Scenario
These bearish scenarios could push XRP toward $2.7. A break below $2.7 would expose the $2.5 support level.
Bullish Scenario
These scenarios could send XRP toward $3. A break above $3 could pave the way to $3.2 and bring the record high of $3.66 into sight.
