The long-awaited debut of a U.S. spot XRP ETF could arrive sooner than expected. Crypto-focused asset manager 21Shares has filed a new document with the Securities and Exchange Commission (SEC) that activates a 20-day countdown for automatic approval—unless the regulator steps in.
The filing, known as Form 8(a), was submitted on Friday and sets the clock ticking toward a potential listing date around November 27. Bloomberg ETF analyst Eric Balchunas confirmed the development, noting that the process now depends entirely on whether the SEC intervenes before the timer expires.
### How the 21RP ETF Works
At the heart of the proposal lies the 21 Exchange. Unlike actively managed crypto funds, this structure focuses purely on exposure to XRP’s value. The 21RP ETF shares are held by designated custodians. Once trading begins, these shares can later be sold or redeemed to help establish market liquidity.
### 21Shares Expands Its ETF Pipeline
The 21RP ETF is not the only product in 21Shares’ pipeline. The company has also submitted an application for an ETF tracking Hyperliquid’s HYPE token—a fund tied to one of the leading decentralized perpetual trading protocols.
If approved, this would mark the first leveraged ETF based on a DeFi platform’s performance, signaling a broader shift toward on-chain assets entering traditional markets. The Zurich- and New York-based firm’s latest filings suggest an aggressive expansion strategy designed to capitalize on the SEC’s faster approval framework introduced earlier this fall.
### ETF Filings Surge as Asset Managers Race Ahead
Alongside 21Shares’ filings, Bitwise recently made headlines for submitting its own Form 8(a) for a spot Dogecoin ETF, just months after the SEC delayed its earlier application.
According to Balchunas, both the Bitwise DOGE fund and 21RP ETF could theoretically begin trading before the month ends if the automatic approval process runs its course.
### A Different SEC, A Faster Rulebook
This current wave of filings reflects a significant shift in the regulatory climate under SEC Chair Paul Atkins, who replaced Gary Gensler earlier this year.
In September, the SEC introduced new listing standards that shortened crypto ETF reviews from 240 days to 75 days, creating a friendlier environment for token-based funds. These reforms align with the Trump administration’s broader pro-crypto policies, aimed at positioning the U.S. as a hub for regulated digital-asset investment vehicles.
Under Gensler, only Bitcoin and Ethereum had secured spot ETF approval. Now, issuers are testing the limits with XRP, Solana, and even DeFi-linked assets like HYPE.
### Market Response
The market appears to be responding positively to the news. XRP climbed 4.2% over the last 24 hours to trade at $2.32 on Bitstamp, based on CoinGecko data.
Despite the daily gain, the token remains about 7% lower on the week as traders navigate broader market volatility.
—
*The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.*
—
**Author**
Alex is a reporter at Coindoo and an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. Alex’s approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
https://coindoo.com/21shares-xrp-etf-nears-launch-as-sec-timer-starts/