TLDR
- Grayscale and Franklin Templeton plan to launch their XRP ETFs on November 24, 2025.
- Grayscale’s GXRP and Franklin Templeton’s EZRP could debut on the same day, pending regulatory approval.
- Both companies have updated their filings to accelerate the approval process for their XRP ETFs.
- The launch of these ETFs follows the success of Canary’s XRPC and Bitwise’s XRP ETFs in the U.S.
- Other asset managers like CoinShares and WisdomTree are still awaiting approval for their XRP ETFs.
Grayscale and Franklin Templeton are preparing to launch their XRP exchange-traded funds (ETFs) on November 24, 2025. This comes after the successful launches of Canary’s XRPC and Bitwise’s XRP ETFs. The industry anticipates a surge in XRP ETF offerings in the coming months.
Grayscale’s XRP ETF Launch Expected
Grayscale has confirmed its plans to convert the XRP Trust into an ETF. The company aims to have the Grayscale XRP ETF (GXRP) begin trading on November 24. This timeline follows Grayscale’s recent regulatory filing update on November 3, 2025.
James Seyffart, an ETF analyst at Bloomberg, has highlighted that GXRP is expected to be available on Monday, November 24. He emphasized that the product could debut the same day as Franklin Templeton’s offering.
“Grayscale’s move comes after its Dogecoin ETF also gained approval, further solidifying November 24 as a key date,” Seyffart noted.
Our base case is that @Grayscale's XRP ETF will go live on Monday the 24th. So will the Grayscale Dogecoin ETF.
And I think the @FTI_US XRP ETF could go live on Monday the 24th as well. Lots happening next week. https://t.co/TkA6EE0D6T
— James Seyffart (@JSeyff) November 19, 2025
The company has worked swiftly to meet the necessary regulatory requirements. By filing the Form 8-A, Grayscale has accelerated the approval process for GXRP. If the product clears all hurdles, investors could begin trading it as early as the date.
Franklin Templeton is also pushing forward with its XRP ETF, known as EZRP. The company’s November 4 filing removed the delay clause, fueling expectations of a November 24 launch. Seyffart noted that this could allow both Grayscale’s and Franklin Templeton’s XRP ETFs to be listed on the market simultaneously.
Although the launch is not a certainty, both ETFs are likely to go live on the same day. Franklin Templeton’s swift action mirrors Grayscale’s efforts to bring the product to market. Investors are now closely monitoring both companies as the potential launch date approaches.
The two ETFs could stir fresh interest in the XRP token. With both financial institutions on track to launch their products, the XRP ETF market is likely to become more competitive. This could lead to more offerings from other firms in the near future.
CoinShares, WisdomTree Await XRP ETF Approval
Several other asset managers are in the process of securing regulatory approval for their XRP ETFs. These include CoinShares, 21Shares, and WisdomTree, who all have pending applications. However, these firms have yet to remove delay clauses from their filings.
CoinShares and WisdomTree are among those still facing hurdles. Their filings retain language suggesting possible delays in their respective launches. Until these clauses are removed, it seems unlikely that their XRP ETFs will be approved on the same timeline as Grayscale and Franklin Templeton.
21Shares, which filed an update on November 7, also retained a delay clause in its application. Consequently, it may not receive approval until it has clearance from the U.S. Securities and Exchange Commission. As of now, these firms remain in a waiting period.
With the two spot XRP ETFs from Canary and Bitwise currently trading, the total inflows into XRP ETFs have reached $410.76 million. This shows the growing investor interest in XRP-based products. As the launch of new ETFs draws nearer, the competition in this market is expected to intensify.
