• 21Shares triggers 20-day countdown for potential SEC approval of Spot XRP ETF.
• Canary Capital’s XRP ETF may also enter the countdown window and will commerce underneath the ticker XRPC.
• Ripple good points momentum with new partnerships and RLUSD stablecoin milestone.

The countdown for a possible U.S. spot XRP exchange-traded fund (ETF) has formally begun, with asset supervisor 21Shares submitting an amended prospectus to activate the 20-day window underneath Part 8(a) of the Securities Act.

The transfer marks a major step in direction of potential approval from the Securities and Change Fee (SEC) and sparked renewed optimism throughout the XRP group.

21 shares begins 20 day countdown

This growth was first highlighted by Bloomberg ETF analyst Eric Balciunas, who wrote in a publish on X (previously Twitter): “21Shares simply dropped 8(a) on the spot XRP ETF. It is primarily a 20-day clock.”

Part 8(a) supplies that the registration assertion routinely turns into efficient after 20 days except the SEC intervenes and requires a delay or modification.

The amended utility removes the phrase “delay modification,” that means the countdown to potential effectiveness is at present underway.

If the SEC doesn’t take motion inside 20 days, the applying will routinely turn out to be efficient, paving the best way for the creation of the fund.

This process can also be being adopted by different potential XRP ETF issuers, signaling elevated competitors amongst asset managers to carry the primary U.S. spot XRP ETF to market.

Canary Capital joins the XRP ETF race

21Shares’ submitting follows an identical transfer by Canary Capital Group, whose XRP ETF utility additionally entered a 20-day countdown interval.

Canary Capital urged traders to “prepare” in a social media publish, including that Canary XRP ETF (XRPC) is “coming quickly.”

The proposed ETF will commerce on the Nasdaq underneath the ticker XRPC, and the XRP will probably be held at Gemini Belief Firm and BitGo Belief Firm.

The fund makes use of the CoinDesk XRP CCIX New York charge as its official worth benchmark.

Canary Capital’s entry into the fray comes after the corporate efficiently launched the primary U.S. spot ETFs for Litecoin (LTC) and Hedera (HBAR) in late October. The transfer strengthened investor confidence in the potential of approval of extra crypto ETFs, together with XRP.

Ripple good points momentum forward of potential approval

The development of the XRP ETF additional strengthens what has already been an necessary interval for Ripple Labs and the broader XRP ecosystem.

Ripple just lately introduced new partnerships with Mastercard and Webbank to help funds for the RLUSD stablecoin, whereas the XRP Ledger (XRPL) has surpassed 100 million recorded ledgers.

Ripple’s stablecoin RLUSD additionally achieved a milestone by exceeding $1 billion in circulation.

These milestones, mixed with the ETF’s momentum, gas optimism that institutional curiosity in XRP may surge as soon as the ETF receives regulatory approval.

Market contributors have famous {that a} U.S.-approved spot XRP ETF may present conventional traders with publicity to XRP by way of a regulated channel, facilitating liquidity and adoption.

The cryptocurrency group continues to watch because the 20-day countdown unfolds.

If the SEC refrains from saying a delay, the 21Shares XRP ETF may quickly turn out to be the newest addition to a rising lineup of digital asset funding merchandise in the USA.