The wait for an XRP exchange-traded fund (ETF) in the United States just got longer, but one leading market expert is not worried. The SEC recently postponed its decision on several spot XRP ETF applications, extending deadlines into October. Even so, Nate Geraci, President of The ETF Store, believes approval could come soon. Instead of seeing the delay as a setback, Geraci sees it as a sign that the regulatory groundwork is almost complete.
XRP ETFs Could Arrive Within 60 Days Amid SEC Delays
Geraci shared his outlook after the SEC pushed back its ruling on the 21Shares Core XRP Trust. The regulator had until August 20 to decide, but instead gave itself another 60 days, moving the deadline to October 19, giving time for reviewing public comments and addressing regulatory concerns under the Securities Exchange Act of 1934.
The postponement affects not just 21Shares but also other major firms waiting on XRP ETF decisions. Companies such as Grayscale, Bitwise, WisdomTree, Canary Capital, CoinShares, and Franklin Templeton all have applications under review. If the current schedule holds, the SEC will issue decisions in a tight window. Grayscale’s filing could see a ruling on October 18, followed by 21Shares on October 19, Bitwise on October 20, and Canary Capital and WisdomTree between October 24 and 25.
Market observers expect the SEC to handle these applications consistently, just as it did with earlier ETF approvals. Even with the delay, Geraci is still confident. In a post on X, he said that the “spot crypto ETF floodgates appear set to open in the next two months.” He explained that the framework for these funds is “nearly ready,” suggesting that the postponement is more of a formality than a real roadblock.
Regulatory Shifts Signal Fast-Tracked Crypto Adoption
Geraci’s optimism for the XRP ETF approval ties to larger changes happening in U.S. financial regulation. He noted that the country is “nearly ready” for more spot crypto ETFs, with Ethereum staking approval expected soon and the Clarity Act under review in the Senate. He also said that the rest of the year “should be wild” as new rules for digital assets begin to take shape.
He shares the same view as Fed Governor Michelle Bowman, who spoke at the Wyoming Blockchain Symposium, saying change is coming and asked banks and regulators to be more open to new tech. She argued that banks should not cling to an overly cautious approach, since doing so could cause the U.S. to fall behind in the global race for financial innovation.
Bowman also said that regulation and innovation do not have to work against each other. In her words, the US must choose to lead the future of finance or risk falling behind. Congress has already passed the GENIUS Act, which sets rules for stablecoins. Industry participants are watching the Senate’s Digital Asset Market Clarity Act, which may split oversight between the SEC and the CFTC.
Featured image from Dall.E, chart from TradingView.com
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