Several of the world’s largest asset managers, including Grayscale, Bitwise, Franklin Templeton, 21Shares, WisdomTree, and Canary, quietly amended their XRP ETF filings this week, signaling that the long-awaited approval process may be nearing its final stage.
The updates, submitted as S-1 registration amendments, come even as the Securities and Exchange Commission (SEC) remains largely paralyzed by the ongoing government funding standoff in Washington. Rather than wait for operations to resume, issuers appear to be finalizing structural and administrative details to ensure a seamless relaunch once reviews restart.
Among the most notable changes are the unveiling of new ticker symbols, an unmistakable sign that preparations for trading are underway. Grayscale’s fund will trade under GXRP, while Franklin Templeton and Canary plan to list as XRPZ and XRPC, respectively. Bitwise and 21Shares have not yet disclosed ticker information, a move analysts interpret as a strategic delay until post-shutdown approval windows reopen.
ETF specialist Nate Geraci called the filings “a strong signal that launch plans are already in motion,” noting that most issuers appear to be entering the final administrative phase. He also highlighted that the SEC’s recent decision to rely on generic listing standards rather than the more complex 19b-4 process could accelerate the timeline once federal operations resume.
Still, Washington’s political gridlock threatens to delay everything. The current government shutdown, one of the longest in recent history, has frozen hundreds of regulatory reviews, including crypto-related ETFs. Prediction market data from Polymarket now shows rising odds that this shutdown could outlast the 35-day record set in 2019.
Yet optimism around XRP’s institutional debut remains strong. For the first time, the token may soon join Bitcoin and Ethereum in the expanding U.S. spot ETF landscape, a milestone that would mark a new era of regulatory recognition and mainstream adoption for one of crypto’s most debated assets.