21Shares Begins SEC Review for XRP Spot ETF, Potential Market Impact Looms

21Shares has formally submitted a proposal for an XRP spot exchange-traded fund (ETF) to the U.S. Securities and Exchange Commission (SEC), kicking off a 20-day review process. The move comes amid growing institutional interest in regulated cryptocurrency products, as seen by XRP’s price surge following the filing announcement. This new development could pave the way for potential trading on the Cboe BZX exchange as early as late November. The impact on the market is likely to be significant if approved, reflecting a historic pattern of increased institutional investment following SEC approval of Bitcoin and Ethereum ETFs.