21Shares Sparks Countdown with XRP ETF SEC Filing

21Shares has filed fresh paperwork with the US Securities and Exchange Commission (SEC) for its proposed spot XRP exchange-traded fund. The submission, made Friday, activates a 20-day review period that could allow automatic approval if the regulator takes no further action.

SEC records show that the company lodged amendment No. 3 to its S-1 registration statement, a standard step for any fund seeking to list on a US exchange. Bloomberg analyst Eric Balchunas confirmed the filing on X, adding that the countdown toward potential approval is now active.

Following the update, XRP’s market price rose by nearly five percent, signaling growing investor anticipation. Traders view the filing as another sign that digital-asset products continue to edge closer to mainstream financial markets.

Structure of the ETF and Listing Plan

According to the S-1 prospectus dated November 1, 21Shares US LLC will serve as the initial seed-creation investor, buying the first basket of 10,000 shares. The trust will then acquire XRP using those proceeds, with custody managed by designated digital-asset custodians.

The ETF is expected to issue common shares of beneficial interest, giving investors a direct way to track XRP’s market price through traditional brokerage accounts. Trading is planned for the Cboe BZX Exchange, pending SEC clearance.

Once listed, the seed investor may redeem or sell portions of the holdings to other market participants, creating early trading activity and liquidity. This mirrors the launch process followed by other spot digital-asset ETFs that entered the US market earlier this year.

Regulatory Process and Broader Context

The SEC examines every ETF proposal to verify compliance with US securities laws and investor-protection standards. The agency has 20 business days to respond to the 21Shares application. It can extend the timeline, request revisions, or allow the ETF to proceed automatically if no concerns are raised.

If the review ends without objections, the fund could begin trading as early as November 27. That timing aligns with other digital-asset filings now moving through the regulatory pipeline.

The filing arrives only weeks after 21Shares submitted an S-1 for a separate fund tied to Hyperliquid (HYPE), a DeFi-focused token still under SEC consideration. If approved, that product would be the first leveraged ETF to track a decentralized-finance protocol’s perpetual-market performance.

What Approval Could Mean for XRP

XRP remains one of the largest cryptocurrencies by market value, even after years of regulatory scrutiny. A successful ETF listing could expand its accessibility, offering investors exposure without the need for self-custody or direct blockchain interaction.

Such a structure removes common entry barriers for institutions that prefer regulated financial instruments. It also signals that asset managers see continuing demand for diversified crypto exposure.

Bitcoin and Ethereum ETFs have already gained momentum in the US, paving the way for new digital-asset products. The XRP proposal now tests whether another major token can clear the same regulatory hurdles and reach public markets.

As the SEC countdown progresses, one question lingers: Will the XRP ETF gain silent approval, or will regulators intervene before the deadline?

Conclusion:

21Shares’ filing for a spot XRP ETF marks a major step toward expanding crypto access through regulated markets. If the SEC allows the 20-day window to expire without action, the ETF could debut by November 27, potentially boosting XRP’s visibility and institutional demand.

Read More: 3 Best Cryptos to Buy as Ripple Whales Accumulate Over $500 Million XRP