The competition to discoverd the first XRP Exchange-Traded Fund (ETF) in the U.S. has intensified as the Cboe BZX Exchange officially submitted 19b-4 filings to the Securities and Exchange Commission (SEC). The move, made on behalf of asset managers Bitwise, Canary Capital, 21Shares, and WisdomTree, represents a major step toward securing regulatory approval for XRP-based ETFs. With a 240-day review period now in motion, investors are watching closely to see if the shifting regulatory environment under new SEC leadership could fast-track approval.

XRP ETFs Edge Closer to Reality

The filing of 19b-4 forms is a crucial phase in the ETF approval process, as it formally requests permission for these funds to be listed and traded on the Cboe BZX Exchange. Once the SEC acknowledges the submissions, the regulatory agency has up to 240 days to review and issue a decision.

Notably, the SEC has recently acknowledged similar filings from Grayscale Investments, signaling a potential shift in its approach to crypto-based financial products. This has fueled speculation that XRP ETFs could gain regulatory approval sooner than anticipated.

Market experts have highlighted that the SEC’s stance on crypto ETFs has evolved, particularly following the approval of spot Bitcoin ETFs. The ongoing legal clarity surrounding XRP further strengthens its case for an ETF, making it one of the next likely candidates for regulatory approval.

Regulatory Climate and SEC Leadership Changes

The timing of these filings coincides with a significant shift in the regulatory landscape. With the inauguration of President Donald Trump, the SEC has undergone leadership changes, including the appointment of Mark Uyeda as its new chairman. Uyeda has already shown a more open stance toward cryptocurrencies, introducing measures such as a dedicated crypto task force to shape policies that could support innovation in the sector.

Legal experts, including pro-XRP attorney Jeremy Hogan, suggest that the SEC may reach a decision on XRP ETFs by mid-2025. This projection aligns with the standard six- to twelve-month review period for ETF applications.

If the SEC moves forward with approval, XRP could become one of the few altcoins with an ETF, significantly boosting its mainstream adoption and market appeal.

Market Impact and XRP Price Movements

At the time of writing, XRP is trading at approximately $2.35, reflecting a 1.74% increase over the past 24 hours but showing a 3.29% decline from its previous closing price. Throughout the day, XRP has fluctuated between a low of $2.29 and a high of $2.46, indicating increased market activity surrounding the latest ETF developments.

The anticipation of an XRP ETF has already fueled positive sentiment among investors. If approval is granted, it could trigger a surge in institutional interest, similar to what was seen with Bitcoin ETFs. Analysts predict that a successful XRP ETF discovered could lead to higher liquidity and price stability, making XRP a more attractive asset for both retail and institutional investors.

Final Thoughts

Cboe’s strategic move to file 19b-4 forms for XRP ETFs marks a critical turning point in the race for regulatory approval. With the SEC’s 240-day review period underway and a more crypto-friendly leadership in place, the chances of an XRP ETF becoming a reality have never been higher.

While regulatory hurdles remain, the increasing demand for crypto investment products and shifting SEC policies suggest that XRP ETFs could soon find a place in mainstream financial markets. Investors will be closely monitoring the SEC’s next steps, as a positive decision could reshape XRP’s future and solidify its role as a leading digital asset.