Key Notes
- Seven issuers updated their XRP ETF applications after Ripple’s SEC case ended.
- Analysts see a 95% approval odds with decisions due in late October.
- JPMorgan forecasts $8 billion in inflows within the first year of trading.
A fresh round of filings for an XRP ETF has been submitted to the United States Securities and Exchange Commission (SEC). This happened as Ripple Labs and the SEC closed a long-running legal battle over XRP. The new submissions have added fuel to expectations that approval for the funds could come before the end of October.
XRP ETF Filings Gain Speed After Ripple Court Win
Seven asset managers updated their registration statements on August 23. The list includes Canary Capital, CoinShares, Franklin Templeton, 21Shares, WisdomTree, Grayscale, and Bitwise. All of them filed amended S-1 documents, a move that caught the attention of industry watchers because of the timing.
Nate Geraci, the President of ETF Store, noted that it was unusual to see so many issuers move together. He described the clustering as a strong sign for the outlook of XRP ETF approvals.
The filings were submitted only hours after the Second Circuit Court of Appeals approved the joint stipulation of dismissal in the case between Ripple Labs and the SEC.
In an earlier update, Coinspeaker reported that the SEC confirmed a joint dismissal appeal with Ripple for the resolution of their long-running case.
Notably, this ruling formally ended the dispute and cleared the way for Ripple to move forward without the shadow of the lawsuit. Analysts believe this outcome marked an important factor in the rush of updated applications.
James Seyffart, an analyst with Bloomberg, said the wave of submissions was almost certainly connected to recent feedback from the SEC. He explained that issuers were likely responding to the same set of comments from regulators, which led them to file updates at the same time.
Seyffart said the move was expected but still a positive development for those waiting on an XRP ETF.
Notably, Bloomberg’s ETF research team now places the odds of approval at about 95%. According to their analysis, decisions are expected to come in stages, with the first outcomes likely by late October.
Expectations Rise as Market Responds
Attention is now turning to what an XRP ETF could mean for the wider market. A report from JPMorgan suggests that spot XRP funds could attract up to $8 billion in inflows during their first year of trading.
This figure would put XRP in line with other leading digital assets that have drawn strong interest once ETFs became available.
The market has already shown signs of reaction. CoinMarketCap data shows that XRP is trading at $3.03, up more than 7% in a single day. Interestingly, the price lift came not only from the latest filings but also from comments by Federal Reserve Chair Jerome Powell at the Jackson Hole conference. In his speech, he mentioned that monetary policy could become more relaxed in the near future.
For many investors, the resolution of the Ripple and SEC lawsuit, along with the wave of amended applications, signals a new chapter for Ripple and XRP. The next key moment will come in October, when the SEC is expected to deliver its decisions on the pending filings.
Until then, the XRP and crypto ETFs in general remain one of the most closely watched topics in digital asset markets. Meanwhile, on the XRP price outlook, analysts remain positive. Coinspeaker reported earlier that some analysts still see a $10 price target for XRP despite recent volatility.
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Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
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Source: https://www.coinspeaker.com/xrp-etf-amended-filings-pile-in-as-approval-anticipation-grows/
