The crypto world is buzzing with anticipation! Bitwise has just dropped a major update for its spot XRP ETF approval, filing what experts are calling the “final amendment” with the SEC.
XRP ETF Approval Imminent as Bitwise Files Final Amendment
This move signals that the long-awaited XRP ETF approval could be just weeks away. According to Bloomberg’s senior ETF analyst Eric Balchunas, this filing checks the “last boxes” for launch, including key details like a NYSE listing and a 0.34% management fee. Consequently, the stage is set for a potential mid-November rollout, igniting a wave of institutional excitement.
Institutional Demand Heats Up for XRP
Meanwhile, the race is on among other top firms. VanEck, Fidelity, and Canary Funds are all advancing their own XRP ETF filings. Notably, Canary Funds removed the “delaying amendment” from its submission, which could fast-track its launch timeline. The final hurdle now is SEC sign-off on the Form 8-A filings after the mandatory 20-day waiting period. Both Bitwise and Canary have already submitted these forms to Nasdaq, meaning exchange approval is the last step. This surge in activity highlights booming institutional interest, with the REX-Osprey XRP ETF already managing over $100 million in assets. Plus, CME Group is expanding its XRP derivatives offerings, catering to professional traders’ growing demand.
Capital Rotation Fuels Altcoin ETF Hype
This push for an XRP ETF comes amid a broader market shift. Bitwise recently launched its Solana ETF (BSOL), which saw over $44 million in inflows last week, pushing total assets above $500 million. Analysts describe this as a “capital rotation” away from Bitcoin and Ether products toward emerging layer-1 assets like XRP, SOL and HBAR.
My Thoughts
As a crypto KOL, I see this as a watershed moment for XRP and altcoins. The XRP ETF approval would legitimize the asset for institutions and likely trigger a flood of capital. Given the Solana ETF’s success, XRP could see similar explosive demand, potentially pushing prices to new highs. This isn’t just about one token—it’s a clear sign that the ETF landscape is evolving beyond Bitcoin and Ethereum, paving the way for broader altcoin adoption and a vibrant altseason.
