Race for U.S. XRP ETFs Heats Up Ahead of Mid-November Launch Window

Quick Breakdown 

• Franklin Templeton, Canary Capital, and Bitwise have amended filings to enable faster XRP ETF launches, with first products possibly landing by November 13.
• More than seven firms are currently awaiting SEC acknowledgement for XRP ETF offerings.
• While ETFs can boost token interest, recent Solana ETF performance warns that rallies may be short-lived.

 

Franklin Templeton leads with updated filing

Global investment firm Franklin Templeton has revised its S-1 registration form, removing the “8(a)” delaying amendment—a clause that previously allowed the U.S. Securities and Exchange Commission (SEC) to postpone ETF launches at its discretion.

NEW: @FTI_US files updated XRP ETF s-1 with shortened 8(a) language. Looking to launch this month. pic.twitter.com/0KxAYiRdSs

— James Seyffart (@JSeyff) November 4, 2025

By dropping this clause, the ETF is set to automatically become effective after the standard 20-day waiting period, even if federal regulatory activity slows or halts, such as during a government shutdown.

ETF analyst James Seyffart pointed out the filing change, noting that Franklin Templeton is targeting a mid-November rollout—with November 13 appearing as the likely market debut date.

Canary Capital and Bitwise follow suit

Franklin Templeton is not alone in the push. Canary Capital and Bitwise have also amended their ETF applications to remove delaying language, placing their products on a similar fast-track timeline.

Journalist Eleanor Terrett previously suggested that Canary Capital’s spot XRP ETF may be the first to go live, contingent on the approval of its Form 8-A registration with Nasdaq—the final procedural step before trading begins.

If approvals are granted smoothly, Canary Capital and Franklin Templeton could launch their XRP ETFs on the same day, while Bitwise is positioning for a release between November 19 and 20.

More firms waiting in line

In total, around seven U.S. spot XRP ETF applications remain pending, with issuers such as Grayscale, 21Shares and WisdomTree also vying for listing opportunities.

The industry believes that a U.S.-listed XRP ETF could help draw institutional inflows and improve market confidence, particularly as XRP currently hovers near a technical “death-cross” signal, typically seen as bearish.

Market outlook: expect a boost, but pace may vary

The launch of crypto-based ETFs has historically acted as a short-term catalyst for price appreciation. However, recent activity in the Solana market serves as a cautionary example. After Bitwise introduced its Solana Staking ETF on October 28, SOL initially rallied past $200, only to fall back sharply, currently trading near $157.

 

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