The cryptocurrency market is abuzz with anticipation as the Depository Trust & Clearing Corporation (DTCC) has taken a significant procedural step by listing five spot Ripple (XRP) Exchange-Traded Funds (ETFs) on its maintenance list. This development is widely interpreted as a strong indicator that these highly anticipated investment products are nearing regulatory approval and a potential market debut.
According to insights from Bloomberg ETF analysts, inclusion on the DTCC’s maintenance list is a crucial stage in the pre-launch process for new funds. While the list encompasses both actively traded ETFs and those awaiting final regulatory clearance, the presence of these XRP funds suggests they are well on their way to securing approval.
The five Ripple spot ETFs recently added to the DTCC’s roster include offerings from prominent asset managers: Bitwise (with the proposed ticker XRP), Franklin Templeton (XRPZ), 21Shares (TOXR), Canary Capital (XRPC), and CoinShares (XRPL).
Despite the U.S. Securities and Exchange Commission (SEC) not yet issuing formal approval—and a DTCC listing not serving as a guarantee of success—the market has reacted enthusiastically. The news has fueled speculation of imminent approval for Ripple spot ETFs, prompting a notable surge in XRP’s price. On October 10, XRP experienced a rally of nearly 8%, reaching $2.46.
This move comes as major issuers increasingly pivot towards the altcoin market, following the successful launches of Bitcoin and Ethereum spot ETFs last year. The trend is evident with recent introductions of spot ETFs for other cryptocurrencies, including Litecoin (LTC), Solana (SOL), and Hedera (HBAR).
Adding to the excitement, Steven McClurg, CEO of Canary Capital, reportedly informed attendees at the Ripple Swell event that his firm is “fully prepared” and their Ripple spot ETF could potentially launch as early as this week.
Market expectations for a possible launch later this month are further bolstered by the SEC’s recently implemented universal listing standards. These new rules allow ETF issuers to utilize an “expedited channel” for approval by submitting revised S-1 filings. This regulatory streamlining is anticipated to enable certain funds to automatically become effective in mid-to-late November, bypassing more cumbersome traditional procedures.
Disclaimer: This article is provided for market information purposes only. All content and views expressed herein are for reference only and do not constitute investment advice. They do not represent the views or positions of BlockTempo. Investors are solely responsible for their own investment decisions and transactions. The author and BlockTempo shall not be held liable for any direct or indirect losses incurred by investors as a result of their transactions.
