The Depository Trust and Clearing Corporation (DTCC) has formally categorized five spot XRP exchange-traded funds (ETFs) as “active and pre-launch” funds, infusing the sentiment with the bright new hope of a November unfolding. This step has elevated the sentiment of the clientele of the market significantly, who cannot help but think that such green lights might be at hand very soon.
The DTCC’s local webpage shows that the money pools include products from Bitwise (XRP), Franklin Templeton (XRPZ), 21Shares (TOXR), Canary (XRPC), and CoinShares (XRPL). DTCC takes care of the post-trade clearance, settlement, and data handling for the financial markets, and through this federative role in the financial ecosystem, is pivotal in forging the path for ETFs to their debut. The listing is reflective of a positive vibe, but simultaneously it remains a non-committal gesture as regards to the SEC’s final say on the approval and trading authorization.
After the achievements of spot Bitcoin and Ether ETFs, quite a few big names have been very quick in both decisions and actions to launch their ETFs for top-tier cryptocurrencies other than Bitcoin and Ether. Here, one can find that Spot ETFs for Litecoin (LTC), Solana (SOL), and Hedera (HBAR) are in full operation after facing a few months of regulatory hurdles.
Canary’s spot Litecoin ETF, which was visible on the DTCC platform in February, finally made its debut in October — an event that is being considered by investors as a positive signal for the case of XRP-oriented funds. Steven McClurg, the CEO of Canary Capital, is said to have indicated during the Ripple Swell event this week that his firm has all the necessary resources to make a go of its XRP ETF “as early as next week.”
Market analysts have interpreted the DTCC’s listings very positively, and their optimism is also buttressed by the recent issuers’ statements, which can only mean the SEC is very close to concluding its review. The agency has recently set down standards that are to be followed for generic listings of ETPs, thus making it possible for amended S-1 filings to come into effect without going through the full procedure, thereby saving time — a change in rules that could leave room for the ETFs to be launched by mid-to-late November.
Grayscale and Bitwise both revealed their fee structures for their spot XRP products earlier this month, which is being interpreted as a local market debut very close to imminent. On the other hand, Nate Geraci, President of NovaDius Wealth Management, wrote on X that the “first line of spot XRP ETFs” would most likely be their next week’s debut.
The career pushing these filings to the top of the heap is also accompanied by better regulatory clarity as the U.S. Senate is working on a deal to end the government shutdown — a disruption that had limited the SEC’s capacity to process ETF applications. As the shutdown is about to be resolved, people close to the industry are talking about XRP catching up with Bitcoin and Ether to make a spot ETF category that is rapidly growing.
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