Five Spot XRP ETFs Listed on DTCC Ahead of Potential November Launch

TLDR

• The DTCC has listed five spot XRP ETFs from Bitwise, Franklin Templeton, 21Shares, Canary Capital, and CoinShares under its “active and pre-launch” category
• DTCC listing is viewed as a positive signal but does not guarantee SEC approval or launch
• Canary Capital CEO stated the firm is prepared to launch its XRP ETF next week
• New SEC listing standards may allow ETFs to become effective automatically by mid-to-late November
• The end of the government shutdown allows the SEC to resume normal operations and review pending applications

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The Depository Trust and Clearing Corporation has listed five spot XRP exchange-traded funds on its website. The funds appear under the “active and pre-launch” category.

The listed products include Bitwise’s XRP fund, Franklin Templeton’s XRPZ, 21Shares’ TOXR, Canary Capital’s XRPC, and CoinShares’ XRPL. The DTCC provides post-trade clearance, settlement, custody and information services.

A DTCC listing generally indicates that trading and settlement preparations are underway. However, it does not guarantee that the SEC will approve these funds or that they will launch.

The timing follows recent changes to SEC procedures. The agency has implemented generic listing standards for ETP issuers. This allows funds to fast-track approvals through amended S-1 filings without procedural delays.

Franklin Templeton updated its S-1 filing with the SEC last week. Bloomberg ETF analyst James Seyffart noted the amendment allows the product to automatically become effective once all conditions are met.

Bitwise has filed what analysts describe as its final amendment for approval. Canary Capital withdrew its “delaying amendment,” which could make its application effective automatically after Nasdaq processes its 8-A filing.

Steven McClurg, CEO of Canary Capital, reportedly told attendees at the Ripple Swell event this week that his firm is fully prepared to launch its spot XRP ETF next week. NovaDius Wealth Management President Nate Geraci posted on X Sunday that he expects the first spot XRP ETFs to debut in the following week.

Government Shutdown Resolution Clears Path

The U.S. Senate reached a tentative deal to end the government shutdown. This development allows agencies like the SEC to resume normal operations.

The shutdown had prevented the SEC from processing or approving new financial products, including ETFs. The agency confirmed in October it would not review applications during the closure.

With government operations resuming, pending filings can now move forward. The resolution removes a major obstacle that had delayed multiple crypto ETF applications.

Previous Crypto ETF Launches

Spot bitcoin and ether ETFs launched successfully earlier. Major issuers then raced to bring similar products for other altcoins to market.

Spot ETFs for Litecoin, Solana and Hedera recently launched after months of delay. Canary’s spot LTC ETF was listed on the DTCC in February. It launched eight months later in October.

The fund is currently the only spot Litecoin ETF in the United States. The delay between DTCC listing and launch demonstrates that listing does not guarantee immediate approval.

Current XRP Investment Products

Some XRP investment products have already launched and gained traction. Highly leveraged offerings such as the Teucrium 2x Long Daily (XXRP) and Rex-Osprey (XRPR) have attracted large inflows.

The XRPR fund now manages over $100 million in assets. These products launched earlier this year.

CoinShares and 21Shares are expected to file their final amendments soon. Multiple XRP funds could potentially go live within a single month if approvals proceed as expected.

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