Overview
- 21Shares’ Amendment No. 3 invoked Section 8(a), triggering a 20-day review that could allow automatic effectiveness around November 27 if the SEC does not intervene.
- XRP climbed roughly 4–5% to about $2.32 on heightened volume shortly after the filing was disclosed.
- The proposed fund is the 21Shares XRP Trust, which intends to list on Cboe BZX, track the CME CF XRP Dollar Reference Rate, and be initially seeded by 21Shares US LLC.
- Competitors moved in parallel, with Franklin Templeton’s XRPZ shown on DTCC and Grayscale updating XRP paperwork, while Canary Capital targets a November 13 debut pending Nasdaq approval.
- Analyst commentary highlights a broader race to list spot crypto products, though any start of trading still hinges on exchange procedures and the absence of new SEC objections.