21Shares, in a delightful bureaucratic ballet, has set the stage for an XRP ETF-should the SEC choose to nap through the next 20 days, approval shall arrive like an uninvited guest on November 27.
Ah, the 8(a) filing-a mechanism so elegant in its simplicity that even Kafka might weep. 21Shares has tossed this regulatory breadcrumb before the SEC’s pigeons, who now have precisely 20 days to peck at it or let it flutter into the ETF approval bin. The ticker? TOXR, because nothing says “trustworthy investment” like a symbol one letter away from “toxic.”
The Filing: A Masterpiece of Passive-Aggressive Finance
Under the 8(a) provision-a clause so obscure it might as well be written in Cyrillic-21Shares has engineered a scenario where silence equals consent. The SEC, that venerable institution of indecision, now has until late November to either yawn or intervene. Eric Balchunas, Bloomberg’s resident ETF soothsayer, distilled the drama into a tweet so concise it could fit on a fortune cookie: “21Shares just dropped an 8(a) for their spot XRP ETF. 20-day clock in effect.” Poetic, no?
21Shares just dropped an 8(a) for their spot XRP ETF.. 20 day clock in effect..
– Eric Balchunas (@EricBalchunas)
The ETF, should it escape the SEC’s notoriously short attention span, will track XRP’s price with the precision of a drunken archer. Custody? Handled by Coinbase and BitGo-because nothing says “security” like entrusting your assets to firms whose names sound like rejected Bond villains.
The Institutional Stampede: Everyone Wants a Piece of the XRP Pie 🥧
Not to be outdone, Franklin Templeton and Grayscale have also tossed their hats into the XRP ETF ring, because why let 21Shares have all the fun? Scott Melker, the Wolf of All Streets (and presumably, some alleys), mused that November 27 could mark the dawn of a new era-or just another Tuesday.
21SHARES FILES 8(A) FOR SPOT XRP ETF
ETF COULD AUTOMATICALLY GO LIVE AROUND NOV. 27 IF SEC DOES NOT ACT
– The Wolf Of All Streets (@scottmelker)
Meanwhile, Canary Capital eyes a November 13 launch-because nothing says “financial innovation” like racing to be first in a market where the rules are written in invisible ink.
The Grand Finale: XRP ETFs and the Theater of Absurdity
Should these ETFs materialize, XRP will finally join Bitcoin and Ethereum in the hallowed halls of “assets your grandparents still won’t understand.” Liquidity? Adoption? Mainstream acceptance? All possible-or perhaps just another chapter in crypto’s never-ending saga of hope, hype, and SEC-induced migraines.
And so, dear reader, we watch. We wait. We refresh Twitter. The countdown ticks. The SEC snoozes. The market trembles. Such is the thrilling mundanity of modern finance. 🎭
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2025-11-08 14:28