XRP Might Be Wall Street’s Dark Horse With October ETF Filings

• XRP may be Wall Street’s dark horse as ETF issuers crowd October review dates
• Funds increasingly compare XRP to Bitcoin as October ETF deadlines approach
• XRP price steadies while spot ETF filings drive dark horse narrative on Wall Street

XRP is drawing renewed Wall Street interest as spot XRP ETF filings advance under the SEC’s new listing rules. Multiple issuers now face decision windows in October 2025, making this month critical for validating XRP’s case as a major institutional crypto asset.

What’s changing at the SEC

In September 2025, the SEC approved generic listing standards for spot crypto ETFs, cutting down custom review time and opening the door to faster approvals. Assets like XRP are expected to benefit from this shift.

Under the new rules, eligible applications should move through in about 75 days, versus prior timelines that often stretched for months.

Related: XRP Value Towers Over LINK as ETFs Build Institutional Demand

Who all has filed for an XRP spot ETF

Multiple firms have submitted spot XRP ETF or ETP applications.

Demand narrative vs. factual boundaries

Some analysts argue the market underestimates demand for an XRP spot ETF, citing institutional interest building quietly. That’s a narrative worth watching, but it remains speculative until approvals land.

The clearer fact is that XRP is not yet approved as a spot ETF, and all current filings remain under SEC review.

Reasons Why Top Asset Managers See XRP as Next Bitcoin

The top-in-line fund managers look at XRP as the next Bitcoin, and with valid reasons. The main reasons why more and more fund managers are shifting their attention to XRP in the recent past include:

• Regulatory compliance and clarity – the XRP market has benefited from the closure of the Ripple vs SEC case amid regulatory clarity in the United States.

• Ecosystem growth – the XRPL network has grown significantly in the past years so much so that Ripple CTO David Schwartz decided to step aside to pave the way for the next wave of development. 

• Fixed market supply – XRP has a fixed supply akin to Bitcoin, thus predisposed to the same market dynamics.

• Robust liquidity amid global adoption – the XRP market has grown over the past years to a highly liquid traded digital asset globally including in South Korea, Japan, and the United States.

XRP price today & technical risks

From 2025’s start, XRP price has been trapped in a consolidation pattern. Although it reached a July high above $3, it never closed monthly above $3.

In the daily timeframe, XRP price has been forming a descending triangle since hitting its ATH in July. The large-cap altcoin, with a fully diluted valuation of about $285 billion, has been retesting a crucial support level around $2.7, which must hold to invalidate further correction ahead.

Related: XRP Price Prediction: Analysts Track $3 Breakout As Futures Interest Cools