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The list includes five Spot-based XRP ETFs, notably CoinShares, Canary, 21Shares, Bitwise, and Grayscale. Grayscale’s spot Dogecoin ETF and Coinshare’s Spot-based Litecoin ETF were also delayed.
Notably, the fintech ETF giant 21Shares is required to wait till October 2025 for the SEC’s decision, as the regulator also delayed its plan to launch staking on its Ethereum Spot-based ETF.
The month of October could make or break XRP
The new development is crucial for XRP and the broader Ripple ecosystem, as the regulators’ decision could significantly impact the XRP token and its respective holders. Shedding light on the importance of the SEC’s response, Pro-Ripple lawyer Bill Morgan took to X to reveal what a positive nod from the SEC could mean in the long term.
“If the SEC approves the XRP ETFs, it could signal market validation for Ripple and lead to greater institutional adoption.” The attorney wrote, further stating that “Ripple’s regulatory standing would be significantly bolstered if it secures both the ETF approval and the banking charter.”
 
Upon approval, market confidence could be heightened and adoption for XRP could skyrocket to never-before-seen levels, which could boost XRP’s price value in the long run.
On the flipside, a rejection could cast a dark shadow on XRP’s future and Ripple’s by extension, as it could influence investors’ interest. As Bill Morgan puts it, “A denial would limit Ripple’s ability to make strides in the U.S. financial system.”
At press time, Ripple (XRP) is trading at $3.03 per token, and could be on track to retest its previous ATH of $3.84.
Source: https://zycrypto.com/october-2025-could-make-or-break-xrp-as-sec-delays-etf-decisions-for-five-spot-applications/