21Shares Moves Closer to XRP ETF Launch as SEC Review Window Opens

21Shares has furthered their XRP ETF filing process with the U.S. regulators. This formally starts the review window that will last 20 days before going live in the market.

21Shares Files Key Paperwork for XRP ETF Listing

Per Bloomberg analyst Eric Balchunas, 21Shares has filed an 8(a) registration statement for its XRP  fund on Friday, which prompted a window review over the next 20 days, pending action by the SEC. 

However, if the agency takes no action in that timeframe, then the filing would automatically be effective, thereby making the fund available on the Cboe BZX Exchange under the ticker symbol TOXR.

The proposed fund aims to offer investors direct exposure to the coin without having to hold the digital asset themselves. The fund will be managed by Coinbase Custody Trust Company, Anchorage Digital Bank, and BitGo Trust Company.

In the meantime, authorized participants like Macquarie Capital and Jane Street Capital will be in charge of share creation and redemption, either in cash or in-kind.

At the same time, Franklin Templeton filed an amendment to its S-1 for an XRP ETF. The fund has since been listed by the DTCC. This is a key procedural step that normally takes place in advance of a product hitting the market.

In similar fashion, Canary Capital has moved closer to its own XRP fund launch by removing the “delaying amendment” from its filing, allowing the document to become automatically effective, too. According to experts, this could set up a potential launch date as early as November 13. The firm did tease a potential launch in a recent post on X.

Experts Eye Uptrend as ETF Hype Builds Momentum

The continued XRP ETF filings have led to bullish sentiment among traders. According to crypto analyst Cantonese, the coin could surge to $8 if it keeps holding key technical levels.

Notably, ETF analyst Nate Geraci had predicted the imminent launch of multiple XRP ETFs amid the filed amendments by asset managers.

If some experts are to be believed, the Ripple coin is still very cheap in value. For instance, according to a recent report by Bayberry Capital, the market continues to misprice the real utility of the token. 

Meanwhile, WisdomTree filed an application for a Physical CoinDesk 20 Spot ETF. This fund features  Bitcoin, Ethereum, Cardano, Solana, and XRP. The Ripple coin comprises nearly 20% of the fund.