21Shares has filed with the U.S. Securities and Exchange Commission (SEC) to initiate the 21Shares Core XRP Trust. This exchange-traded fund (ETF) aims to give investors exposure to XRP’s price movements without requiring direct ownership of the cryptocurrency. This initiative follows the firm’s success with the ARK 21Shares Bitcoin ETF, which allows U.S. investors to access Bitcoin.
Bitwise Joins the Fray
Bitwise has also submitted a filing for its own XRP exchange-traded product (ETP). Bitwise CEO Hunter Horsley expressed optimism about the future of blockchain technologies and the need for innovative monetary assets. He emphasized the firm’s commitment to helping investors navigate opportunities in the cryptocurrency space over the past seven years.
Grayscale Expands XRP Offerings
In September, Grayscale launched the Grayscale XRP Trust, offering a similar investment vehicle focused solely on XRP. This trust is available to eligible individuals and institutional accredited investors, providing a structured way to gain exposure to the digital asset.
Ripple’s Significant XRP Sale Sparks Market Concerns
Ripple’s CEO, Brad Garlinghouse, recently stated that it is “inevitable” for XRP to be offered through an ETF. This statement comes in light of the substantial funds attracted by BlackRock’s Bitcoin ETF, which has seen about $17 billion since its approval in January. However, Ripple’s plan to sell 470 million XRP in one month—the largest single-month sale in seven years—has raised market concerns. This amount far exceeds Ripple’s usual monthly selloff from its escrow reserves.
Since 2017, Ripple has locked away 55 billion XRP (55% of its total supply) in escrow accounts. It releases a total of one billion XRP each month over 55 months to maintain market stability. Yet, the decision to sell an additional 470 million XRP has led to speculation about potential price drops. Earlier this year, Ripple’s sale of 400 million XRP in June resulted in a 20% drop in XRP’s price within a week.
Market Analysis and Future Outlook
As of 2024, Ripple has sold over 2.5 billion XRP, with the latest allocation significantly higher than prior sell-offs. Ryan Lee, Chief Analyst at Bitget Research, pointed out that XRP’s market performance has been underwhelming. The asset has fluctuated within a narrow range, heavily influenced by Ripple’s ongoing legal challenges. The uncertainty surrounding the SEC’s appeals may prolong Ripple’s legal troubles until 2026 or beyond, leaving investors anxious and fatigued.
In summary, XRP’s trajectory depends on regulatory hurdles, significant sell-offs by Ripple, and a perceived lack of innovation within the ecosystem. Unless Ripple can navigate its legal challenges and spark interest in XRP through innovative applications, the outlook for the cryptocurrency remains uncertain.
I am Toby Rothschild, Co-Founder of Spearmint and author at Coinography, and a strategist focused on advancing Web3 innovation, digital ecosystems, and the future of decentralized technology. I combine product thinking, creative leadership, and deep interest in emerging trends to help shape how individuals and organizations interact with the next generation of digital systems.
My work centers on understanding how blockchain, AI, and digital identity are reshaping global industries. At Spearmint, I help lead the direction of initiatives that bring clarity, structure, and meaningful user experiences to complex technological environments. I focus on bridging vision with execution, ensuring that innovation remains practical, scalable, and aligned with long-term growth.
As an author at Coinography, I create insights that translate fast-moving Web3 developments into clear, useful narratives. I explore topics such as decentralized governance, digital identity, creator economies, token models, protocol design, and the shifting cultural patterns around emerging technology. My aim is to make digital transformation more understandable and approachable for a wider audience.
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