NEW YORK / LONDON (IT BOLTWISE) – SEC approval of XRP spot ETFs is delayed, increasing competition among crypto ETFs. This could impact demand for XRP ETFs as competition from other cryptocurrencies increases.
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The delay in the approval of XRP spot ETFs by the US Securities and Exchange Commission (SEC) has significantly changed the dynamics in the crypto market. Companies like Canary Capital, CoinShares and WisdomTree that had hoped to have their S-1 forms approved soon now face longer wait times. These delays could significantly impact the expected inflow of institutional money into XRP spot ETFs.
The current situation has increased competition among crypto spot ETFs. According to Eric Balchunas, a senior ETF analyst at Bloomberg Intelligence, there are currently 155 crypto ETP filings covering 35 different digital assets. This number could rise to over 200 in the next twelve months, creating a real rush into the market. Of particular note are the 23 Solana spot and 23 BTC spot ETF applications filed since 2024, while XRP spot ETFs see a total of 20 applications.
Expectations for a quick approval of the XRP spot ETFs were high following the conclusion of the SEC vs. Ripple case. But the SEC’s reluctance to approve spot ETFs could result in XRP spot ETF issuers facing stiff competition. The SEC could approve all crypto spot ETFs at once to prevent any one token from gaining a market advantage.
Nate Geraci, President of NovaDius Wealth Management, commented on the large number of planned crypto spot ETF launches and noted that competition among different cryptocurrencies could dampen demand for individual ETFs. These developments raise questions about the future market position of XRP spot ETFs and how they will compete in an increasingly crowded market.
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