21shares awaits SEC decision on XRP ETF amid new product frenzy

The growing demand for XRP ETFs is putting 21shares in the spotlight, as the company stated it is still awaiting the SEC’s “effectiveness declaration” for its spot XRP ETF. On December 2, 21shares posted on X that it had not yet received a final decision and urged the community to trust only the company’s official channels. This came after rumors surfaced that their ETF might have been scheduled to launch within the week.

21shares also denied the rumors of an early launch, emphasizing that they had not issued any such announcement. Attention spiked when users noticed 21shares’ product appearing in search results on Vanguard’s platform, fueling speculation that approval might be imminent.

At the same time, 21shares has strengthened its infrastructure capabilities by selecting Standard Chartered as its digital asset custodian, utilizing services in Luxembourg registered with the CSSF regulator. The addition of a compliant and secure custody mechanism is expected to make 21shares’ ETF more attractive to institutional investors.

While 21shares awaits a signal from the SEC, the US market has seen a series of new XRP ETFs launched: Canary (XRPC) became the first spot XRP ETF, followed by Franklin (XRPZ) and Grayscale (GXRP). The rapid emergence of these products has made the XRP ETF race more competitive than ever.