Bitwise Moves Closer to XRP ETF Approval with Final S1 Filing

Highlights:

• Bitwise has added final details for the XRP ETF, signaling that SEC approval could be close.
• The ETF includes a 0.34% management fee and will trade on the NYSE.
• Other firms like VanEck and Canary are also racing to launch XRP ETFs.

Asset management giant Bitwise has filed the final amendment of its XRP Exchange Traded Fund (ETF) application to the U.S. Securities and Exchange Commission (SEC). The updated document includes a fee of 0.34% and the New York Stock Exchange as the listing venue. The typical aspects usually signify the last step before the ETF starts trading.

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Bloomberg analysts suggest that this indicates the approval may happen in just a few weeks. The amendment that has been given the label ‘No. 4’ is generally considered to be the last one in the entire regulatory process. It has come on the heels of the recent success of Bitwise’s Solana ETF, which has gained more than $500 million in inflows.

XRP ETF Details Finalized Ahead of Possible Launch

The submission also contains the important Form 8-A, which starts the 20-day countdown. This step usually comes right before the final SEC clearance. Bitwise is now waiting for the NYSE’s green light before it can enter the market.

According to Eric Balchunas, the addition of the fee together with the exchange is “the last boxes to check.” His colleague, James Seyffart, remarked that the clean structure of the filing structure might allow it to get to the market quicker than its rivals. If the 20-day period passes without any issues, then trading could commence in mid-November.

Bitwise just updated their XRP ETF filing to include exchange (NYSE) and fee of 0.34%, which are typically the last boxes to check. Amendment #4. pic.twitter.com/BUnkasSQY5

— Eric Balchunas (@EricBalchunas) October 31, 2025

Interest in XRP has surged as institutions expand into digital assets. The recently debuted REX-Osprey XRP ETF (XRPR) surpassed $100 million in assets. The anticipated launch of the U.S.-listed XRP fund is likely to attract the interest of traditional investors.

Competing Filings Signal November Rush

Bitwise, however, is not the only one pushing for the launch. VanEck, Canary Funds, and Fidelity have all presented their respective applications for XRP ETFs. Canary’s updated application excluded a clause that could lead to delay, thus speeding up the process of approval. However, the longer structure of the application might still make it take longer than Bitwise.

Notably — of the two filings in this image. Only the Bitwise xrp ETF has the shorter language that might allow it to launch in 20 days. But tons of issuers filing amended and updated documents past day+ pic.twitter.com/XxNyg7iVMq

— James Seyffart (@JSeyff) October 31, 2025

Seyffart believes that the simplified application process of Bitwise could lead it to the listing first. This is very similar to the previous ETF races, wherein the first to market got the highest inflows. Timing is very often a decisive factor in success, especially in the crypto markets.

The approval of Canary’s XRP ETF could still be launched in November, subject to final approval from Nasdaq. The cluster of issuers aiming for a release before the end of the year suggests that institutional demand is fueling the rush in the market.

Regulatory Shift Creates New Market Entry Point

The XRP ETF filing has greater implications in the market beyond competition. Its approval would signify a key milestone in the asset’s journey to mainstream acceptance. XRP had been in a legal dispute with the SEC over its security status.

The withdrawal of the lawsuit has, however, paved the way for multiple ETF applications. Hence, a physically backed XRP ETF would represent a means of price exposure without the need for actual ownership. This would consequently attract financial institutions seeking crypto exposure through the traditional routes.

In addition, the recent influx of XRP ETF applications indicates that market participants are becoming increasingly optimistic about the current regulatory clarity under the Trump administration.

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