What happened?
Major ETF issuers amended S-1 filings to remove delaying language and use SEC generic listing standards, letting commodity-based XRP ETFs launch after a 20-day window even with the government shutdown. Canary Capital moved first with a possible November 13 launch and was soon followed by Bitwise, Franklin Templeton and 21Shares as firms race for first-to-market advantage. At the same time XRP popped about 4.6% to $2.31 but remains under pressure after post‑Swell volatility and looming technical risks like a potential death cross.
Who does this affect?
This mostly affects XRP holders and traders who could see bigger moves and more liquidity if ETFs start buying the token. ETF issuers, institutional investors and market makers stand to benefit from new product flows, while firms that don’t amend filings risk falling behind. Regulators and retail users are also impacted because the strategy leans on SEC generic listing rules and the shutdown’s limited staffing to speed launches.
Why does this matter?
If these ETFs go live they could channel meaningful institutional money into XRP, improving liquidity and price discovery. That inflow would be bullish for adoption and could lift prices, but near-term technical issues like a possible death cross mean volatility and downside risk remain. Bottom line: ETF launches would strengthen market structure and demand, yet the immediate outcome will depend on how new capital balances against traders reacting to short-term technical signals.