October's XRP ETF Decision Could Unleash Unprecedented Capital Inflows Into Crypto Markets

The timeline is ticking down, and industry observers believe the next few weeks could mark a watershed moment for the crypto industry. Multiple XRP ETF applications are awaiting regulatory verdicts from the U.S. Securities and Exchange Commission, with decisions set to land in October—a deadline that could fundamentally reshape capital flows into digital assets.

Why XRP Stands Out Among Spot ETF Contenders

EasyA co-founder Dom Kwok recently articulated a compelling thesis: if approved, the XRP ETF could attract the most substantial inflows the crypto market has ever witnessed. His reasoning centers on XRP’s unique market positioning.

Unlike Bitcoin and Ethereum, whose elevated nominal prices create psychological barriers for retail investors, XRP trades at a significantly more accessible level. This price-to-entry advantage becomes particularly relevant in the ETF context. Kwok emphasized that XRP maintains one of the most geographically distributed holder bases in the industry, combined with deep liquidity—only trailing Bitcoin and Ethereum in that metric. Given that crypto adoption still sits below 10% of the global population, ETFs represent the critical gateway for mainstream participation.

The infrastructure already exists: ETF analysts have noted that investors may be substantially underestimating demand for this product, particularly given the explosive growth in XRP futures markets.

The October Regulatory Checkpoint

The SEC has consolidated its timeline around a pair of key dates in October. Filings from major asset managers—21Shares, Grayscale, Bitwise, CoinShares, and Canary Capital—now share an October 19 deadline. Meanwhile, WisdomTree’s XRP ETF proposal under Cboe BZX faces a decision deadline of October 24. Franklin Templeton’s application remains outside these October gates, but virtually every other pending spot XRP fund hinges on these autumn verdicts.

The Futures Signal Points Toward Explosive Spot Demand

Recent futures market data suggests the underlying demand narrative is remarkably compelling. XRP futures open interest surpassed the $1 billion threshold in record time—just three months, making it the fastest futures product ever to reach that milestone. Additionally, futures-based XRP ETF products have already accumulated more than $800 million in assets, signaling that institutional capital is effectively staging a waiting room.

Market observers have noted an asymmetry in filings: while Bitcoin launched with three spot ETF approvals and Ethereum with one, XRP currently has over a dozen pending applications. This filing depth, combined with pent-up futures demand, projects into multi-billion dollar capital inflows once spot products receive clearance.

What’s at Stake

The October decisions will determine whether XRP joins the select group of cryptocurrencies with SEC-approved spot ETF products. If regulators green-light these applications, the capital migration from futures markets into regulated spot products could redraw the industry’s liquidity landscape entirely. For investors monitoring the deadline, the October window represents a potential inflection point for XRP’s institutional adoption story.