Several major financial institutions now speed up their efforts to create an XRP-based exchange-traded fund (ETF) market. Major investment companies including Grayscale and Nasdaq support the rising professional focus on XRP by presenting their applications to SEC.

Multiple companies work together to move XRP-based funds into the market now. Grayscale takes the lead by filing an application to transform its current functioning XRP Trust into an ETF version. Nasdaq recommends that CoinShares introduce ETFs based on both XRP and Litecoin for investors.

CBOE Joins the XRP ETF Race

The Chicago Board Options Exchange submitted several XRP ETF listing applications to the U.S. Securities and Exchange Commission in response to other asset managers at Canary, 21Shares, Bitwise and WisdomTree. Major financial companies are moving together to make XRP available to big investors in the market.

People eagerly await progress even though rules from the authorities need to be met first. Federal lawyer Jeremy Hogan believes obtaining SEC approval faces lesser problems compared to other issues. He explains that obtaining approval would take a short period yet registering under S-1 must wait eight to twelve months because of its high complexity.

Yes, the approval can happen that fast, but then the S-1 has to be approved, etc. etc. So, think of it more like 8-12 months.

Thank God I don't work on those for a living.

— Jeremy Hogan (@attorneyjeremy1) February 10, 2025

Financial Firms Embrace Crypto ETFs

Hogan indicates that Ripple’s legal battle with the SEC won’t greatly affect the necessary approval process. The SEC focuses its legal action on chosen XRP transactions from exchanges while accepting that XRP itself is not a security.

A growing number of financial companies enter the market because investors want crypto-based ETFs. Diverse financial companies adding digital assets to their business strategy shows how valuable XRP may become in exchange-traded funds (ETFs). 

Crypto investment accessibility moves closer to its breakthrough through ongoing progress even though its ultimate attainment still needs work.

The ongoing regulations with big banks entering the market make XRP ETFs a promising investment for the future. People engaged in the financial market and investing world will closely monitor the advancement of digital asset ETFs.