Several prominent asset managers are awaiting a decision from the U.S. Securities and Exchange Commission (SEC) regarding their spot XRP ETF applications, with major players like Bitwise and Grayscale at the forefront. Ripple’s XRP has garnered substantial interest from institutional investors seeking regulated investment vehicles for the digital asset. 21Shares, Canary Capital, WisdomTree, CoinShare, Franklin Templeton, and others have submitted their applications, each facing deadlines to secure SEC approval by October of this year. Bitwise holds the distinction of being first to file a spot XRP ETF with SEC acknowledgment in February, while its corresponding ETF is live and has over 109 million XRP in cold storage. Ripple expert Van Winkle has shed light on the growing competition for early market share as more than 18 XRP ETFs are expected to launch upon approval. This surge in demand from institutions could lead to a significant increase in institutional holdings and market activity, potentially boosting XRP prices.