The first spot XRP exchange-traded funds (ETFs) are on track to debut in mid-November 2025, marking a major milestone for Ripple and broader crypto adoption in the U.S. According to recent filings reviewed by TradingView and CoinDesk, issuers have removed the SEC’s delaying amendments, setting the stage for imminent approval.
Key Developments
- Canary Capital: The firm eliminated the delaying amendment from its S-1 filing, positioning its spot XRP ETF for a potential Nasdaq launch around November 13.
- Bitwise: Updated its S-1 to include a 0.34% management fee and proposed listing on the New York Stock Exchange, targeting a possible November 19–20 launch window.
- Regulatory Context: These advancements proceeded despite an ongoing U.S. government shutdown, which has slowed other regulatory decisions, underscoring the SEC’s willingness to move forward with crypto-related filings.
Industry Reaction
ETF analyst Nate Geraci described the potential approval as “the final nail in the coffin of anti-crypto regulators,” noting the symbolic importance of an XRP ETF given the SEC’s five-year litigation against Ripple, which ended just three months ago.
Sometime in next two weeks, I expect launch of first spot xrp ETFs…
SEC had open litigation against Ripple for past five years, up until three months ago.
IMO, launch of spot xrp ETFs represents final nail in coffin of previous anti-crypto regulators.
Have come a *LONG* way.
— Nate Geraci (@NateGeraci) November 3, 2025
Market analysts expect the move to attract substantial institutional inflows, mirroring the surge seen in Solana and Hedera ETFs earlier this month. However, some caution that a “buy the rumor, sell the news” effect could limit immediate price gains as traders lock in profits.
The upcoming launches would represent a historic shift in regulatory sentiment—transforming XRP from a once-contested token into a fully tradable asset under U.S. securities law.
