XRP ETF Wave Hits DTCC as U.S. Market Awaits November Launch

Five spot XRP ETFs listed on DTCC signal potential November launch as SEC approval remains the final step.

Canary Capital expects to debut its XRPC ETF within 20 days using a no-delay amendment, following recent ETF launches.

Grayscale aims to convert its $14M XRP Trust into a spot ETF as institutional demand for XRP products continues to grow.

Five spot XRP exchange-traded funds (ETFs) have surfaced on the Depository Trust and Clearing Corporation (DTCC) list, signaling accelerating momentum toward a potential U.S. debut

The listings, from Franklin Templeton, Bitwise, Canary Capital, 21Shares, and CoinShares, suggest growing competition among asset managers as investor interest in digital assets widens

The newly listed products include Franklin XRP Trust (XRPZ), 21Shares XRP ETF (TOXR), Bitwise XRP ETF (XRP), Canary XRP ETF (XRPC), and CoinShares XRP ETF (XRPL). Each fund now appears under DTCC’s “active and pre-launch” category, a stage often viewed as a precursor to regulatory clearance.

Preparations Accelerate Ahead of Potential ETF Launch

The DTCC serves as a key infrastructure provider for U.S. financial markets, offering settlement and custody services for ETFs and other securities. While the appearance of these XRP funds on its list does not confirm approval, it shows operational readiness for a possible launch

Approval from the U.S. Securities and Exchange Commission (SEC) remains the final step before trading can begin. During Ripple Swell 2025, Canary Capital CEO Steven McClurg said his firm plans to launch its XRPC ETF next week

He explained that the fund could go live within 20 days using a no-delay amendment process. Canary recently launched Litecoin and Hedera ETFs, which recorded strong early trading volumes. Following Canary’s lead, WisdomTree is also expected to join the DTCC list soon with its own XRP product, according to industry sources.

Regulatory Updates Speed Up ETF Filings

Recent SEC adjustments to listing procedures have shortened approval timelines. Issuers can now submit amended S-1 forms that automatically become effective under specific conditions

These new standards could allow faster launches for XRP ETFs, potentially within November. Grayscale, meanwhile, is pursuing a conversion of its existing XRP Trust into a spot ETF. The trust, introduced last September, currently holds around $14 million in assets under management.

The shift from trust structures to ETF formats highlights a growing trend among issuers adapting to updated regulatory frameworks. With several applications already filed, XRP’s inclusion in the U.S. spot ETF landscape could soon follow Bitcoin and Ethereum.

Expanding Demand for XRP Investment Products

Investor interest in XRP-linked instruments has intensified throughout 2025. Teucrium’s 2x Long Daily XRP ETF (XXRP) and ProShares’ Ultra XRP ETF (UXRP) both debuted earlier this year. The XXRP fund has attracted roughly $306 million in net assets in less than twelve months.

Futures activity has also grown fast. XRP and Solana derivatives are now among the fastest-expanding contracts on CME Group’s platform, competing with Bitcoin and Ethereum in daily trading volume. This growth underscores broader market participation and liquidity improvements across alternative crypto assets.

As multiple issuers advance ETF applications, XRP’s growing presence on DTCC shows a growing phase in U.S. digital asset markets, with increasing institutional engagement and regulatory readiness shaping the next steps.

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