XRP Is Now the Most In-Demand Altcoin for Spot ETF Filings from Major Wall Street Firms

• The bull case for XRP is now driven by three key factors: ETF filings, corporate adoption, and utility.
• A key SEC decision on the Franklin Templeton spot XRP ETF is expected on June 17.
• Within the corporate sector, NASDAQ-listed Weebis has announced a $300M XRP treasury.

XRP now has all the markings of an imminent breakout from a combination of three key drivers: rising institutional interest in a spot ETF, growing adoption as a corporate treasury asset, and expanding real-world utility in global payments.

This multi-faceted XRP bullish thesis is gaining traction among analysts, even as the token trades in a stable range. At press time, XRP is priced around $2.25, give-or-take, with a market cap of $132.5 billion, but a look beneath the surface reveals several major catalysts on the horizon.

XRP ETFs: Key SEC Decision Looms as Major Firms Line Up

Excitement is building around the potential approval of a spot XRP ETF in the U.S. Notably, on June 17, the US Securities and Exchange Commission (SEC) is set to announce its decision on Franklin Templeton’s XRP spot ETF filing. On prediction platform Polymarket, the odds of an XRP ETF approval in 2025 stand at 87%. 

Franklin Templeton, which manages over $1.5 trillion in assets, previously filed one of the earliest Bitcoin ETF applications via the CBOE BZX exchange. That same exchange has facilitated recent ETF approvals, adding weight to XRP’s chances. 

Historically, the SEC has postponed similar applications, such as those for Bitcoin and Ethereum. However, the analyst notes that a more crypto-friendly posture has emerged following the appointment of Paul Atkins as SEC chair.

Other major asset managers including Bitwise, Grayscale, ProShares, 21Shares, and WisdomTree have also filed XRP ETF applications. The volume of filings makes XRP the most pursued altcoin for ETF exposure.

Related: Nasdaq-Listed VivoPower Makes a $100 Million Bet on a Yield-Bearing XRP Treasury

Beyond ETFs: Corporate Treasuries Add XRP as a Strategic Asset

Parallel to the ETF narrative, institutional interest in XRP is also growing at the corporate treasury level. In a move that mirrors Strategy’s Bitcoin strategy, institutional interest in XRP is going beyond ETFs

Chinese AI mobility firm Weebis, listed on NASDAQ, recently announced a $300 million XRP reserve modeled after MicroStrategy’s Bitcoin strategy. 

Related: Ripple Confirms ONDO’s OUSG Fund, Backed by BlackRock’s BUIDL, Is Live on XRP Ledger

Moreover, US-based Hyperscale Data is planning a $10 million XRP investment. It is also aiming to launch an XRP-based lending platform for NYSE-listed companies in Q3 2025.

Growing Utility: Ripple’s Cross-Border Payments Network Expands

Underpinning all of this is the expanding real-world utility of the XRP Ledger. XRP now powers real-time cross-border payments through partners like MoneyGram and Tranglo. Tranglo has seen a 1,729% surge in SME transactions since Ripple’s 2021 investment. 

Adding to the strong narrative, XRP has earned notable regulatory approvals. In the UAE, XRP became the only digital asset approved by the Dubai Financial Services Authority (DFSA) for use in global fund transfers. In addition, Ripple plans to launch an Ethereum-compatible sidechain to bring DeFi capabilities to XRP Ledger.