XRP ETF Race Heats Up as Franklin, Bitwise Revise S-1 Filings

Franklin Templeton, Bitwise, and Canary Capital have all filed updated S-1 registration statements with the Securities and Exchange Commission (SEC) in recent days, intensifying the race to launch the first U.S. spot XRP exchange-traded fund (ETF).

The filings, posted between October 31 and November 4, suggest issuers are eyeing mid-November for potential launches.

Major Asset Managers Join the XRP ETF Push

Earlier today, Bloomberg ETF analyst James Seyffart revealed that Franklin Templeton had submitted an amended S-1 featuring shortened “8(a)” language, an important legal tweak that allows a registration to take effect automatically within 20 days, bypassing direct SEC sign-off. The prospectus, dated November 4, outlines that the Franklin XRP Trust will hold the token as its primary asset, tracking its price performance.

Both Bitwise and Canary Capital made similar filings last week, removing the “delaying amendment” that normally lets the SEC control approval timing. According to journalist Eleanor Terrett, this move positions Canary’s ETF for a November 13 debut, assuming Nasdaq grants final clearance through its 8-A filing.

This approach mirrors the strategy used by issuers of the Solana (SOL), Litecoin (LTC), and Hedera (HBAR) ETFs last month, which launched under the same automatic rule despite parts of the U.S. government being shut down. Those launches were successful, with Bitwise’s BSOL ETF even recording $56 million in first-day trading volume, the highest among over 850 ETFs launched this year.

Broader Market Implications and Investor Outlook

The expected XRP ETF wave comes at a time when over 150 crypto ETF filings are pending with the SEC, spanning 35 different digital assets. The Ripple token currently ranks third among all crypto ETF targets, with around 20 separate filings, trailing only Solana and Bitcoin.

Industry watchers say these developments show a clear shift in regulatory tone, following the end of Ripple’s five-year legal dispute with the SEC in August 2025. Analysts such as Nate Geraci of NovaDius Wealth Management believe XRP ETFs could “launch within the next two weeks,” marking what he called a “major moment” for mainstream crypto investing.

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