Recent progress in the U.S. spot XRP ETF market highlights a growing ecosystem. The Depository Trust & Clearing Corporation (DTCC) added the proposed Canary XRP ETF (ticker: XRPC) to its eligibility list, signaling further development before regulatory approvals. While this adds to the pipeline of funds ready for trading upon SEC approval, it’s not indicative of imminent greenlight. The DTCC routinely adds ETFs to its system, preparing them for launch if regulators grant the final nod. This move echoes similar steps for Fidelity’s Solana ETF and Canary’s Hedera ETF, demonstrating a consistent process within the market. However, this behind-the-scenes preparation does not equate to regulatory progress. Nate Geraci, president of The ETF Store, highlights that a DTCC listing is just standard ETF plumbing – only the Securities and Exchange Commission (SEC) can authorize a launch. Other XRP products are already active in the US market, including futures-based ETFs from managers like Volatility and ProShares, all cleared through the DTCC. The Canary spot ETF simply ensures the market infrastructure is ready if and when the SEC grants approval. While the SEC remains a key factor, excitement around XRP persists. Several institutional investors are already participating, holding over $800 million in XRP-based ETFs. Market indicators show strong optimism with Polymarket predicting an approval rate of 92% for at least one U.S. spot XRP ETF by the end of 2025. As market momentum continues and anticipation builds, we wait to see if this pipeline of opportunities will result in a landmark approval from the SEC.