XRP ETF: These Funds Are Still Waiting for SEC Approval
Franklin Templeton Joins the XRP ETF Race as More Firms File for Approval
The competition to launch the first spot XRP exchange-traded fund (ETF) in the U.S. is heating up, with asset management giant Franklin Templeton becoming the latest firm to submit an application. According to an official filing with the U.S. Securities and Exchange Commission (SEC) on March 11, the Franklin Templeton XRP ETF aims to mirror the performance of XRP, with its holdings securely stored at Coinbase Custody Trust.
That same day, the SEC delayed decisions on several crypto ETF applications, including Grayscale’s bid to convert its existing XRP Trust into an ETF. Despite the growing number of filings, BlackRock - the issuer behind the largest spot Bitcoin ETF - has yet to submit an application for an XRP-based product.
Who Has Filed for an XRP ETF in the U.S.?
As of March 12, at least nine firms have applied for XRP ETFs, with notable names such as Bitwise, ProShares, and 21Shares in the mix.
Bitwise, one of the world’s largest cryptocurrency fund managers, was the first to make a move, filing a Form S-1 for an XRP ETF on October 2, 2024. Just a few days later, Canary Capital followed with its own submission on October 8.
By the end of 2024, Switzerland-based crypto investment firm 21Shares and U.S.-based ETF provider WisdomTree had also entered the race, filing for their XRP ETFs in November and December, respectively.
In early 2025, ProShares made a significant push, filing for multiple XRP ETF products on January 17, including the ProShares XRP ETF and three additional XRP investment vehicles. Around the same time, European crypto firm CoinShares submitted its own filing, while Grayscale formally proposed converting its XRP Trust into an ETF listed on the New York Stock Exchange on January 30.
More recently, Volatility Shares, a Florida-based financial firm, added three XRP ETF filings on March 7, covering the Volatility Shares XRP ETF, a leveraged 2x XRP ETF, and an inverse -1x XRP ETF.
Other XRP-Linked ETF Filings
In addition to dedicated XRP ETFs, some asset managers have included XRP in broader cryptocurrency investment products.
On January 21, REX-Osprey filed for an "ETF Opportunities Trust," a package of seven ETFs covering a range of assets, from major cryptocurrencies like Bitcoin and XRP to memecoins like Bonk (BONK) and Official Trump (TRUMP). Likewise, Tuttle Capital Management submitted a filing for 10 daily target ETFs, which include XRP and Melania (MELANIA) among their holdings.
Who Has Yet to Enter the XRP ETF Market?
While interest in XRP ETFs is growing, some big names in the crypto investment space remain on the sidelines. BlackRock, Invesco, VanEck, ARK Invest, Fidelity Investments, and Galaxy Digital have yet to submit any XRP ETF applications.
With the SEC still weighing its decisions and more firms eyeing the market, the race to launch the first spot XRP ETF remains wide open.
