SEC pushes back decisions on XRP ETFs from 21Shares, CoinShares

Key Takeaways

The SEC has extended review deadlines for XRP ETFs proposed by 21Shares and CoinShares.
Both ETF decisions are now delayed until October 2025 amid increased crypto ETF proposals.

The US Securities and Exchange Commission has extended the timeline for when it will rule on spot XRP exchange-traded funds from 21Shares and CoinShares, the 21Shares Core XRP Trust and the CoinShares XRP ETF.

In separate notices published on August 18, the SEC designated longer periods to consider each application, pushing final decision deadlines into late October.

The SEC pushed the deadline for the 21Shares Core XRP Trust, which aims to list on the Cboe BZX Exchange, to October 19, 2025.

The proposal was filed in February and was subsequently amended and republished in the Federal Register later that month. After initiating proceedings in May, the SEC now says additional time is needed to fully evaluate the filing.

For the CoinShares XRP ETF, planned for listing on the Nasdaq Stock Market, the commission extended its review deadline to October 23, 2025. CoinShares submitted its initial rule change on February 7, 2025, with publication following on February 25.

21Shares and CoinShares filed their applications as part of a wave of crypto asset ETF proposals that followed the SEC’s landmark approvals of spot Bitcoin and Ethereum ETFs last year.

Those approvals opened the door for issuers to push for similar products tied to other digital assets, including XRP, in hopes of expanding investor access to the crypto market through regulated, exchange-traded vehicles.

The SEC has also delayed decisions on the CoinShares Litecoin ETF and the Truth Social Bitcoin and Ethereum ETF, a hybrid product proposed by Trump Media & Technology Group.

Bloomberg ETF analysts previously noted that the delays are procedural and do not impact the likelihood of approval.

XRP now sits alongside Litecoin and Solana as a top-tier candidate for a spot crypto ETF, with industry experts assigning a 95% chance that the SEC will authorize a fund tied to the fourth-largest digital asset.