Key Takeaways:
- 21Shares has filed a Section 8(a) amendment for its proposed spot XRP ETF, starting a 20-day clock.
- If the SEC stays silent, the ETF could become effective around November 27, 2025.
- XRP rose nearly 5% right after the filing, as traders bet on a potential U.S. approval.
The XRP community woke up to big news this week. 21Shares quietly filed a Section 8(a) amendment for its spot XRP exchange-traded fund, a small legal step that could have an outsized impact on how altcoins reach U.S. investors.
What looks like paperwork may actually be the final trigger in a long-running race between regulators, issuers, and crypto markets.
A Closer Look at the Filing
What Section 8(a) Actually Does
When a company submits an 8(a) amendment, the clock starts ticking. The SEC has twenty days to comment, delay, or simply do nothing. If the agency takes no action, the registration becomes effective automatically.
That’s why this filing matters: it shortens the waiting game. Instead of another long, open-ended review, 21Shares is forcing a timeline.
The company first filed for a spot XRP ETF earlier this year, but the submission sat in limbo while the SEC focused on Bitcoin and Ethereum products. This new amendment effectively tells regulators, “We’re ready—your move.”
A Tactical Decision
Analysts say the timing isn’t random. The filing landed on November 7, just days after renewed optimism around altcoin-based ETFs. Bitcoin and Ethereum products have already cleared the path, and several asset managers are now testing whether that precedent can extend to other tokens.
If the SEC lets the 8(a) clock expire, 21Shares could be the first to list a spot XRP ETF in the United States—something unimaginable a year ago, when XRP’s legal status was still being fought in court.
Read More: 21Shares Launches DYDX ETP, Unlocking Institutional Access to On-Chain Derivatives
Ripple Effects in the Market
XRP’s Instant Reaction
Traders wasted no time. Within an hour of the filing appearing on the SEC database, XRP spiked almost 5%, jumping from around $2.20 to $2.32.
Volumes jumped on Binance, Coinbase, and Bybit as speculators piled in. Derivatives desks also saw a burst of new long positions, suggesting the market sees this filing as more than procedural.
Some analysts called it a “signal flare” moment for XRP—proof that institutional finance is warming up to the token even after years of skepticism.
Investor Sentiment Turns Cautiously Optimistic
The sentiment shift isn’t only about price. For years, XRP has sat in a strange middle ground: large enough to matter, but too controversial to touch.
The 21Shares move gives it new legitimacy, at least in perception. Market watchers now see XRP joining the broader trend of crypto-as-infrastructure assets—tokens viewed less as speculation and more as systems that power payments and liquidity.
If that narrative holds, the ETF could attract demand from traders who once dismissed XRP as a relic of early crypto.
Broader ETF Landscape
Where 21Shares Fits In
The Swiss-based firm isn’t new to this race. It already manages a range of European crypto ETPs and partnered with ARK Invest on several U.S. applications. Filing under 8(a) shows it’s willing to test U.S. rules aggressively, even at the risk of rejection.
Competitors are watching closely. Franklin Templeton and Grayscale have each hinted at their own XRP-related strategies. If 21Shares clears the path first, it could define how future altcoin ETFs are structured—from custody to redemption models.
Potential Custodians and Market Depth
While the filing doesn’t specify a custodian, insiders point to Coinbase Custody or Anchorage Digital as likely candidates, both already approved for Bitcoin and Ethereum products.
Liquidity won’t be a problem. XRP regularly ranks among the top-five most-traded cryptocurrencies by daily volume, often surpassing $2 billion.
Still, ETF success depends on more than liquidity—it’s about how seamlessly authorized participants can create and redeem shares, and whether investors trust the fund’s transparency once trading begins.
Read More: Bitcoin and Gold ETFs Shock Wall Street With Rare Top 10 Trading Surge
Unanswered Questions
No one knows if the SEC will intervene. The agency could pause the countdown with a single letter requesting revisions, as it has done before with Bitcoin funds.
But if it stays quiet, the XRP ETF might slip through by procedural default—a scenario that would rattle precedent and challenge the assumption that only Bitcoin and Ethereum deserve the “spot” treatment.
Some market participants see this as a bold stress test of regulatory limits. Others call it a strategic play to push the conversation forward, even if approval doesn’t come immediately.
Either way, the next few weeks could define whether XRP graduates from a long-debated token into a regulated, exchange-traded asset that institutions can finally hold.
Source: https://www.cryptoninjas.net/news/21shares-sparks-20-day-countdown-with-new-filing-for-spot-xrp-etf/