October and November Could Change Everything

The XRP community is bracing for a decisive stretch this fall as the U.S. Securities and Exchange Commission (SEC) prepares to deliver long-awaited rulings on several spot XRP ETF applications. With multiple deadlines scheduled for October and November 2025, the coming months could either cement XRP’s place in mainstream finance or deal a heavy blow to investor hopes.

October’s Cluster of XRP ETF Decisions

The SEC will issue a series of rulings in mid-October:

• October 18 – Grayscale’s XRP ETF ruling
• October 19 – 21Shares’ XRP ETF ruling
• October 20 – Bitwise’s XRP ETF ruling
• October 23 – CoinShares and Canary Capital XRP ETF rulings
• October 24 – WisdomTree’s XRP ETF ruling

This packed schedule means XRP could dominate headlines for weeks, with each ruling acting as a potential market catalyst. Even a single approval could spark inflows, while multiple approvals in quick succession might trigger a larger rally.

The action doesn’t stop in October. Franklin Templeton’s application, one of the most closely watched given the firm’s influence in traditional finance, is due on November 14. Approval of this fund could draw significant attention from mainstream investors and asset managers well beyond the crypto space.

Divided Opinions on Institutional Demand

Not everyone believes these ETFs will transform XRP’s adoption. 

On X, analyst AdrianoFeria.eth argued that the launch could backfire, stating: 

“Ripple ETFs will most likely mark the beginning of the end for XRP because I highly doubt there will be any meaningful institutional interest.”

Critics argue XRP lacks the strong narratives that help Bitcoin thrive as “digital gold” or Ethereum as the backbone of decentralized applications. From this perspective, ETFs may launch but still struggle to attract serious inflows.

Optimists see things differently. Canary Capital CEO Steven McClurg predicts an XRP ETF could attract $5 billion within its first month, potentially outperforming Ethereum ETFs in the financial sector. 

Supporters argue XRP’s efficiency in cross-border payments makes it a natural fit for institutions once the right investment vehicle is available.

SEC’s Wider Crypto ETF Wave

XRP is not alone in this race. Bloomberg analyst James Seyffart notes the SEC is reviewing 92 crypto ETF applications, covering assets from Solana and Cardano to meme coins like Bonk and Trump’s token. 

Seyffart estimates a 95% chance of approval for XRP, Solana, and Litecoin ETFs in 2025, making this fall a possible turning point not just for XRP, but for the broader altcoin market.